Its about time someone called out the ISC (again) for quoting average returns for retail funds. No super members experience that "average" result. They either get the retail fund "flagship fund" result, often superior to the ISC funds results, or they get the legacy fund result if they are unadvised and haven't shifted themselves out of the old funds.Of course, bank executives bonuses ride on the excess profits of those legacy products, so they would rather take a bit of ISC flack for "underperformance" and keep their personal rewards. No cultural problem there!Ultimately, both the ISC and bank executives are culpable for allowing the public to be grossly misled. Sadly, there's been no shortage of opportunists ready to inappropriately push people into SMSFs as an alternative (you retired so you could start a new life as an investment analyst right?). What an industry.
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