Update on your investment

Delivering for our members

Over the 2024 calendar year, our Growth (MySuper) investment option returned 10.77%. This result contributes to our strong long-term results which are 7.83%, 8.07% and 7.53%^* over 10, 15 and 20 years respectively, making us one of the top performing super funds over the long term^†.

Over the 2024 calendar year, our Conservative Growth investment option returned 9.03%, and over the ten years to 31 December 2024 it delivered 6.92%^‡.

Strength in global markets

Global share markets in 2024 delivered their strongest result in over ten years, in Australian dollar terms, although a contributing factor has been weakness in our currency. Without the 5% to 10% depreciation of the Australian dollar against most major currencies, returns from global shares would have been lower than in 2023.

Mega stocks powered ahead

The other major factor driving the strength of global markets was the performance of United States mega-cap technology stocks, Apple, Alphabet (Google), Amazon, Microsoft, Meta (Facebook), Nvidia and Tesla.

Things were slower in China and Australia

While the US economy continued to power ahead, both the Chinese and Australian economies have struggled over the last 12 months.

The Chinese economy began the year well, growing at over 5% (year-on-year) in first quarter of 2024. However, economic growth fell to 4.7% and then 4.6% in the June and September quarters respectively.

China’s extended economic weakness and fears of Trump’s tariff agenda have also eroded the outlook for commodities, which has had a knock-on effect for the Australian economy and the Australian dollar.

The Australian economy expanded by only 0.8% over the year to 30 September 2024. Outside the pandemic, this is the weakest period of growth since the 1990-1991 recession.

Looking into 2025

We’re positioned for shares to continue to outperform into 2025, and there is potential for a turnaround in commercial real estate. Although global interest rates are expected to decline across the year, we still expect our global credit portfolio to provide solid returns from its focus on defensive investments. 

^* Returns are as at 31 December 2024. The return for the Growth (MySuper) investment option is based on the crediting rate, which is returns minus investment fees, taxes and until 31 January 2020, the percentage-based administration fee. Excludes fees and costs that are deducted directly from members’ accounts.

^† The Growth (MySuper) investment option obtained top quartile performance ranking over 10, 15 and 20 year periods from the SuperRatings FCRS SR50 Balanced (60-76) Index, for the period ending 31 December 2024. Past performance is not a reliable indicator of future performance.

^‡ Returns are as at 31 December 2024. The return for the Conservative Growth option is based on the crediting rate, which is returns minus investment fees, taxes and until 31 January 2020, the percentage-based administration fee. Excludes fees and costs that are deducted directly from members’ accounts.