POWERED BY MOMENTUM MEDIA
Aware announces results and expands investment range
Aware Super has announced its strong financial year returns as well as unveiling a range of index investment options for members.
The fund’s default MySuper Lifecycle option delivered 10.7 per cent for the FY22–23. Aware said default members aged up to 56 were invested in the High Growth option.
Over the past decade, the option has delivered 9.3 per cent per annum.
Aware Super has 1.1 million members and $160 billion in assets under management.
Chief investment officer, Damian Graham, said: “We’re pleased to have delivered such a strong return for members at a time when the global economic backdrop remains clouded and after a year characterised by further market volatility.
“That volatility was particularly pronounced early in the financial year, then receded later in the year despite continuing inflationary pressure and rising interest rates.
“There are signs inflation might now be easing but it’s too soon to suggest those economic pressures are going away so we’ll be as vigilant as ever in prudently managing our members’ investments for the long term to help set them up for their best possible retirement.”
Other funds that have announced their results include Australian Retirement Trust that has returned 10 per cent, AustralianSuper that has returned 8.2 per cent, and HESTA that has returned 9.5 per cent.
The fund has also unveiled four indexed investment options for its 1.1 million members; two for those saving for retirement and two for members in the pension phase. A further four were socially conscious indexed options.
These have been created following member consultation, market trend analysis, and market research to ensure they meet members’ needs.
Steve Travis, Aware Super’s group executive, member growth, said: “In bringing all our 1.1 million members onto a single administration and registry platform as part of our digital transformation, we’ve been able to tap into significant new benefits of scale and redesign our investment options from the ground up to cater for the demands of the modern market — including the growing demand for these indexed funds.
”At the heart of designing these new options was a ruthless commitment to keeping fees as low as possible for members, aiming to be consistently among the lowest-priced providers of options in this class.”
Lastly, the fund announced the opening of a London office, its first international office expansion to source and manage offshore investments.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
