POWERED BY MOMENTUM MEDIA
CFS targets Millennials
Colonial First State (CFS) has added a new superannuation investment option designed for people born in the 21st century.
The First Choice Lifestage 2000-2004 option is available on CFS's FirstChoice platform and has investment settings currently biased toward growth assets (90 per cent), with 10 per cent in defensive assets.
CFS general manager for product and investments, Peter Chun, said "younger members have time to ride out the ups and downs of investment markets, so their super is invested in growth assets, like property and shares".
"These assets have a greater potential to deliver higher returns over time and therefore grow the member's retirement savings above inflation," he said.
Chun said there were 12 life stage options ranging from Baby Boomers through to Millennials and had $3 billion in assets in the options.
Recommended for you
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
