POWERED BY MOMENTUM MEDIA
CFS targets Millennials
Colonial First State (CFS) has added a new superannuation investment option designed for people born in the 21st century.
The First Choice Lifestage 2000-2004 option is available on CFS's FirstChoice platform and has investment settings currently biased toward growth assets (90 per cent), with 10 per cent in defensive assets.
CFS general manager for product and investments, Peter Chun, said "younger members have time to ride out the ups and downs of investment markets, so their super is invested in growth assets, like property and shares".
"These assets have a greater potential to deliver higher returns over time and therefore grow the member's retirement savings above inflation," he said.
Chun said there were 12 life stage options ranging from Baby Boomers through to Millennials and had $3 billion in assets in the options.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
