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.

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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.