Returns over the last 10 years1
Suggested timeframe
Fees 2 + admin fees and costs
Suitable if you're an investor who:
Expected number of years of negative annual returns in any 20 years: 4 to less than 6. The risk is based on the standard risk measure (SRM).
| Accumulation and TTR Income accounts: | CPI + 3.5% p.a. |
| Retirement Income accounts: | CPI + 4.0% p.a. |
| Super assets: | $17.7 billion |
| Pension assets: | $5.1 billion |
As at 31 December 20241
Our Balanced option for Accumulation accounts produced a return of 2.55% for the December quarter and 11.89% over the year to December 2024. The 10-year return of 8.31% p.a. remains above the option’s return objective of CPI+3.5% p.a.
The performance of global share markets was mixed over the December quarter, with strong gains in US and Japanese shares offsetting negative returns in Australia, Europe, and the UK. A weaker Australian dollar against a range of developed market currencies boosted the returns from unhedged international shares.
Both global and Australian fixed income returns were negative for the quarter. In the wake of the US election result, the prospect of US tax cuts, even wider budget deficits, and the likely inflationary impact of broad-based trade tariffs drove bond prices lower.
Our unlisted assets portfolios outperformed public markets over the December quarter.
In the SuperRatings survey for December 2024, the performance of our Balanced option was ahead of the median fund over the quarter, and over 1, 3, 5, 7, and 10 years to the end of December 2024.
| Accumulation accounts | Retirement Income accounts4 | |
|---|---|---|
| 10 years (p.a.) | 8.31% | 9.16% |
| 7 years (p.a.) | 7.86% | 8.67% |
| 5 years (p.a.) | 7.62% | 8.39% |
| 3 years (p.a.) | 6.32% | 7.06% |
| 1 year | 11.89% | 13.30% |
| 3 months | 2.55% | 2.84% |
Past performance isn't a reliable indicator of future performance. Returns shown are after investment fees and costs, transaction costs and investment taxes (where relevant) but before all other fees and costs.
Returns shown here for our Accumulation account are also the returns that apply for Transition to Retirement Income accounts. Tax generally doesn't apply to investment earnings in Retirement Income accounts.
Our team of investment specialists have designed each option with the aim of growing your super savings and maximising your retirement income. Join today
| Strategic asset allocation5 | |
|---|---|
|
Australian shares
|
25.75% |
|
International shares
|
26.5% |
|
Unlisted assets and alternatives
|
29.5% |
|
Fixed income
|
16.25% |
|
Cash
|
2.0% |
| Total | 100% |
As at 31 December 2024
We don't design portfolios based on short-term economic, market, or geopolitical forecasts. However, our investment team and external investment managers do seek to capitalise on opportunities that inevitably emerge during times of heightened market volatility.
At the end of December 2024, our Dynamic Asset Allocation (DAA) strategy favoured bonds over shares. Within DAA’s shares allocation, Japanese, UK, and European shares are favoured over shares in the US and Australia. In fixed income, we are overweight in France, UK, US, Italy, and Australia and maintain underweight positions in German, Japanese, and Canadian bonds.
We continue to hold a substantial allocation to the key unlisted asset classes – property, infrastructure, private equity, and private debt. As a large superannuation fund, we have well-diversified portfolios of these assets that we expect will deliver strong, long-term returns, while reducing our members’ exposures to share market volatility.
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