Kelly Power

Colonial First State (CFS) is pleased to announce it has achieved first and second place in the top performing MySuper Lifecycle options over the year to 30 June 2024.

New analysis from superannuation research house SuperRatings^[1] reveals that the Essential Super growth option (MySuper Lifestage 1975-79) was the best performing MySuper Lifecycle option in FY24, delivering a 14.4% return.

This was followed by another CFS fund, the FirstChoice Employer Super growth option (MySuper Lifestage 1975-79), achieving second place in the same category with a 14.3% return.

CFS was also recognised for strong performance in SuperRatings’ analysis of the top fifty Balanced options for FY24, with the CFS Enhanced Index Balanced Fund achieving third place with an 11.4% return.

“CFS is gaining significant momentum as a leading superannuation provider, achieving double-digit returns for MySuper members for two years in a row,” said Kelly Power, Chief Executive Officer of Colonial First State Superannuation.

“Strong performance is what our members want to see, and we are proud to be in a position where we can continue delivering exceptional investment performance for them,” Ms Power said.

Jonathan Armitage, Colonial First State’s Chief Investment Officer, said several factors are driving the outstanding returns benefiting CFS members.

“While there is no doubt that technology stocks have been an important driver of returns for our MySuper options in FY24, there are other significant themes playing out,” Mr Armitage said.

“We are now seeing strong performance across a broader range of equities, rather than concentrated in a few mega cap stocks, which is a healthy development.”

“We are also seeing significant declines in the value of commercial real estate and other unlisted assets. The retirement savings of our members are not invested in legacy unlisted assets, which are suffering from the headwinds of higher interest rates and the impact of hybrid working. Diversification and agility in managing our assets means CFS is well positioned to deal with a changing investment landscape.”

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Notes:
[1] https://www.lonsec.com.au/super-fund/2024/07/16/media-release-ai-and-bank-shares-push-super-balances-higher-in-2024/

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