TelstraSuper has announced a return of 12.67 per cent for its MySuper Growth investment option for the calendar year.
TelstraSuper announced on Monday that its MySuper Growth investment option – which applies to all members below 50 who do not make an investment choice – earned 12.67 per cent, net of investment fees and taxes, for the calendar year to 31 December 2024.
The strong performance of sharemarkets around the world, particularly in the US, was a key factor in delivering the double-digit returns, the fund’s chief investment officer, Graeme Miller, said.
“Our members in the MySuper Growth option generally have long investment horizons and can therefore potentially benefit from a greater allocation to growth assets, such as shares. This approach is designed to build long-term wealth during the early accumulation years that will compound over the longer term. The past two years have contributed positively towards this long-term objective,” Miller said.
In October 2023, TelstraSuper updated its Lifecycle arrangement, raising the transition age from MySuper Growth to MySuper Balanced to 50 and from Balanced to MySuper Moderate to 65. The changes aim to extend growth potential while balancing risk and return as members age.
The fund reported on Monday that its MySuper Balanced investment option earned 10.49 per cent, while the MySuper Moderate option delivered 8.67 per cent returns.
Additionally, TelstraSuper’s MySuper Conservative option, for members above age 70, earned 5.94 per cent.
Also in 2023, the fund also introduced a High Growth investment option, targeting members seeking higher long-term returns and comfortable with short-term fluctuations.
With a focus on shares, technology, and venture capital, the option delivered strong 2024 returns of 15.35 per cent (net of fees and taxes), exceeding its objectives.
