GoalTracker is the default MySuper investment option for members of leading funds including Russell Investments’ iQ Super, Nationwide Super and Resource Super.

In the year to 30 June 2023, the GoalTracker investment option for members aged 50 and under earned a return of 13.5%, with members benefiting from the option’s higher allocation to growth assets. Since inception in March 2020, the option has delivered annual returns of 11% p.a.

​For younger members, the GoalTracker investment option is designed to focus on growth over the longer-term, exposing their portfolio to a high proportion of growth assets. This focus changes over time as members near retirement age, with the proportion of defensive assets increasing to manage risk.​

Members across all age-bands with the GoalTracker investment option achieved more than 9.9% in returns for the year to 30 June 2023, benefitting from access to the world’s leading investment managers and strategies in diversified, adaptive, and efficient portfolios aimed at achieving their goals.

Beyond investment performance

The GoalTracker program was designed to demystify super and help close the ‘real retirement gap’^[2]. Research has shown that many Australians see their super savings as a ‘black box’, leaving them with key unanswered questions as to their retirement readiness, such as: ‘How much do I need?’ ‘Am I on track?’ ‘What can be done to close the gap?

In response, the award-winning^[3] GoalTracker program’s philosophy is unique in that it has been shaped to answer these questions. Since launching in 2020, one in four members have actively engaged with GoalTracker’s online tools, taking actions such as building a personalised retirement income goal, understanding how they are tracking to that goal, and modelling strategies to close any gap.

Once an individual has set a goal, GoalTracker can do the hard work by implementing and reviewing their asset allocation quarterly and adjusting it on their behalf, if necessary, as their financial circumstances and markets change. That allows the strategy to be more focused on growth where it’s appropriate for an individual’s circumstances.

Tim Furlan, Russell Investments Head of Master Trust and Superannuation said: “GoalTracker’s performance demonstrates the immense value of having the right investment strategy, for each member, at the right time. The broader GoalTracker program also highlights the benefits of working closely with members to define their retirement goals and delivering support tools and services to help them achieve those goals.

“It also highlights the strength of Russell Investments’ investment capabilities. With more than $447 billion in assets under management across the globe, Russell Investments can offer Australians access to leading investment managers and strategies normally reserved for only the largest institutional investors.

“With a focus on growth assets for our younger members, in years when growth assets like global equities perform strongly, those members see a greater benefit as we’ve seen over the 2022/23 financial year.”

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Notes:
[1] GoalTracker Age Based 50 and below, https://russellinvestments.com/au/super-and-retirement/investments/performance/iq-super
[2] Making Super Personal Whitepaper, Russell Investments, 2020
[3] GoalTracker received the Best Fund: Innovation award at the 2020 Chant West Super Fund Awards; Global publication Pensions & Investments’ WorldPensionSummit awarded the Innovation Award in Technology Innovation to GoalTracker at its 2020 Innovation Awards; Money Management and Super Review, together with their research partner Heron Partnership, named GoalTracker the winner of the Best Member Engagement Innovation at the Super Review Super Fund of the Year Awards 2020.

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