Colonial First State (CFS) is one of Australia’s largest retail superannuation and investment platforms. CFS offers super through its FirstChoice platform — a broad investment platform used by financial advisers and direct members.
Key Facts
| Feature | Detail |
|---|---|
| Fund type | Retail |
| Platform | FirstChoice |
| Owner | KKR-backed, previously CBA-owned |
| Regulator | APRA-regulated |
| Website | cfs.com.au |
CFS Super Products
CFS operates primarily through the FirstChoice platform:
- FirstChoice Employer Super — for employer plans
- FirstChoice Personal Super — for individual members
- FirstChoice Wholesale Personal Super — higher minimums, lower fees
- Retirement products — transition to retirement and account-based pensions
Fees
CFS fees vary significantly by product and investment option chosen:
- Wholesale options: Lower fees (typically 0.15–0.50% p.a. management fee)
- Standard retail options: Higher fees, often including adviser service fees
- Adviser fees: Many CFS accounts include ongoing adviser fees — check if an adviser is actively engaged
Fees can be complex — total costs include administration, investment management, and potentially adviser fees. Review the relevant PDS carefully.
Investment Options
CFS’s FirstChoice platform offers one of the widest investment option menus in Australian super:
- Hundreds of managed fund options across domestic and international asset classes
- ESG / responsible investment options
- Fixed interest and cash options
- Passive (index) and active management options
The breadth of options suits members who want investment flexibility or have specific fund manager preferences.
Performance
Performance varies significantly by investment option. Members should compare specific options using the ATO’s YourSuper tool. The APRA Annual Performance Test has flagged some CFS products as underperforming in prior years.
Who CFS Super May Suit
- Members working with a financial adviser who uses the FirstChoice platform
- Members who want a very wide range of investment options
- Members with existing CFS accounts who have specific investment arrangements
For most default members, comparing with lower-fee industry funds is advisable.
Past performance is not a reliable indicator of future performance. For advice on whether CFS suits your needs, speak with a licensed financial adviser via MoneySmart. For more: Super Fund Comparison Table, How to Read a Super PDS.