HESTA breaks $100bn FUM

The industry super fund has announced member savings have surpassed the $100 billion barrier.

HESTA has surpassed $100 billion in funds under management (FUM) for the first time, a milestone the industry fund said reflects its growing scale and long-term focus on delivering strong, sustainable returns for members.

The achievement comes on the back of top-quartile returns across all ready-made super investment options over the past decade, including its default MySuper Balanced Growth option, which has averaged 8.16 per cent per annum over the 10 years to 30 September 2025.

HESTA CEO Debby Blakey said the $100 billion mark represented far more than a symbolic milestone, describing it as a platform to deliver greater value to more than 1 million members.

“Far more than a milestone, we believe this growth enables us to deliver greater value for our more than one million members,” Blakey said. “This is money that represents greater security, more choice, and a more dignified retirement. It also provides even more opportunities to deliver super with impact.”

Blakey said the fund’s growing scale helps it access a larger and more diverse range of high-quality investments, while economies of scale assist in keeping costs down over time, supporting stronger long-term returns.

Since introducing its in-house ‘retirement readiness’ measurement model in 2016, HESTA has seen more than 250,000 additional members shift from a projected “modest” to a “comfortable” retirement lifestyle.

The fund has recently announced a series of fee and policy changes highlighting the benefits of scale, including lower investment fees across most ready-made investment options, a reduced minimum balance for Income Stream access, and a new insurance agreement that will lower premiums for insured members from next year.

Blakey said the fund’s recent success builds on achievements such as scaling internal management of around 18 per cent of the portfolio, founding the 40:40 Vision initiative to advance gender balance in executive leadership, and advocating successfully for super to be paid on Commonwealth Paid Parental Leave.

“Our next journey of growth has already begun with the launch of our new three-year strategy, which aims to provide more personalised experiences and opportunities that deliver greater value to members over the long term,” Blakey said. “It also includes work to continue to refine our investment model at a time when we now have almost 20 per cent of our portfolio managed internally.”

Founded in 1987 to extend superannuation to predominantly female workforces in health and community services, HESTA now serves a member base that remains about 80 per cent women.

“It’s an incredible privilege to serve those working in health and community services and to invest in and for people who deliver key services for all Australians,” Blakey said.

“Our members are mainly women working part-time or casually in often lower-paid sectors such as aged care or early childhood education. Core to our purpose is our super with impact approach, and the growth we’re seeing across the fund shows this resonates with more and more Australians.”