CFS, TelstraSuper confirm double-digit super returns

Mike Taylor

Managing Editor/Publisher, Financial Newswire

14 January 2025

Superannuation funds have begun spruiking the fact that they achieved double digit returns last calendar year.

TelstraSuper set the ball rolling announcing a 12.67% return for its MySuper Growth investment option, while Colonial First State (CFS) announced that its its MySuper growth option had achieved 16.6%.

The growth option returns confirm the predictions of specialist superannuation reseach and ratings houses Chant West and SuperRatings.

CFS said that its FirstChoice Employer Super balanced fund (MySuper Lifestage 1965-69) delivered a 13.8% return, while its growth fund delivered 16.6%.

TelstraSuper chief investment officer, Graeme Miller said the strong performance of share markets around the world, particularly in the US, was the key factor in delivering two years of double digit returns to members.

For the year to 31 December 2024, TelstraSuper’s MySuper Balanced investment option (which applies to members between age 50 and 65) earned 10.49%; the MySuper Moderate option (which applies to members between age 65 and 70) earned 8.67%; and the MySuper Conservative option (which applies to members above age 70) earned 5.94%.

It said that over the same 12-month period, TelstraSuper RetireAccess members earned 12.55% for Lifestyle Growth; 11.04% for Lifestyle Balanced; 8.93% for Lifestyle Moderate and 5.94% for Lifestyle Conservative. All returns are net of investment fees and taxes.