Portrait and Headshot Photographer

Russell Investments’ GoalTracker® MySuper option delivered an impressive return of 12.3% for its accumulation members aged 50 and under for the 2024 financial year.​

The headline result reflects strong performance for all members in Russell Investments’ GoalTracker MySuper option, with members seeing returns ranging from 9.2% to 12.3% (depending on their age) for the financial year to 30 June 2024.

Since its inception in March 2020, the GoalTracker MySuper option has delivered average annualised returns of between 8.3% and 11.3% across age bands.

“Our strong investment performance is helping to grow the super savings for more than 80,000 working Australians across the country. It also reinforces the commitment of the fund to manage investments through members’ life stages, giving them the best chance at a great life after work,” said Tim Furlan, Head of Australia and New Zealand at Russell Investments.

The GoalTracker option invests members’ super based on their age, through a diversified portfolio invested across a range of asset classes.

For younger members, the focus is on growth over the longer-term, allocating 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.

“The two biggest factors that can limit members’ super savings is not taking on enough investment risk while they’re younger and then conversely not adequately derisking as they approach retirement. Our default GoalTracker option addresses those factors by investing based on the members’ age. They also have the option to get an even more personalised strategy by adding further details like their super balance, income, expected retirement age and income goal, and more.” Furlan said.

Daniel Choo, Senior Portfolio Manager at Russell Investments, said that “The aim of the GoalTracker option is to take acceptable levels of risk when appropriate through the asset allocations we set for members. We actively manage our actual exposures relative to those asset allocations, based on the outlook for both growth and defensive assets.”

“Despite a risk of recession, our strategy was to stick to our strategic asset allocations, and this paid off as markets continued to rise over the year. This decision was based on our Cycle, Valuation and Sentiment investment process.

“This year’s performance reflects the importance of balancing investment opportunities when markets are fearful and knowing when to dial down as markets become overexuberant. We continue to focus on achieving the best possible return for our members to reach their personal goals and financial security in retirement.”

The post Russell Investments delivers double digit MySuper return in FY24 appeared first on AdviserVoice.