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February 21st, 2024
The first half of the 2023/24 financial year has seen First Super go from strength to strength.
Our Growth option’s sustained performance has been recognised by Money Magazine as the Best of the Best Balanced Super Product, beating bigger funds, and demonstrating that First Super is large enough to perform, but small enough to care.
First Super also received a Gold Award from SuperRatings, which rated our investment performance as, ‘Excellent – well above benchmark.’
From July to December 2023, we secured positive returns for all investment options.
For the 2023 calendar year, we returned 9.38% for Super Balanced, and 9.68% for Pension Balanced.
But when it comes to super performance, long-term returns are what matter the most. Our Super Balanced option is in the top 20 balanced options over 10 years with an average return of 7.2%, according to SuperRatings.1
Markets were volatile in the first few months of the financial year, due to inflation, interest rates and conflict in the Middle East. However, they rallied towards the end of December.
International shares boosted our returns, with very strong growth in December. This was driven by technology stocks, optimism about interest rates and growth in Japanese shares.
Rising interest rates also improved fixed interest and cash returns.
Interest rates will remain high with the possibility of cuts towards the end of 2024, but there are no guarantees.
Until inflation lowers towards the expectations of central banks, global financial markets will remain jittery.
International conflicts will also continue to impact the markets.
Market volatility is a normal, short-term part of the investment cycle, and your super is a long-term investment designed to recover from declines over time.
For full details of results for the six months 1 July – 31 December 2023 for all options see below.
*Past investment returns are not a reliable indication of future returns.
If you’re invested in the Balanced investment option, your superannuation will be spread across all the assets mentioned above, which is beneficial during times of market uncertainty. That’s because if one asset class loses value, generally another can prop it up, stabilising your overall investment return.
To find out more about your investments you can:
Log into your firstonline account to view your investments. See your balance on the dashboard, get more details on the ‘Your Account Estimate’ page.
Contact us to ask questions about your investments. Call us on 1300 360 988 or email mail@firstsuper.com.au.
Make a financial advice appointment with our team. Advice about investment is covered by your membership so there’s no extra charge.2
1 According to SuperRatings’ Top 10 balanced options over 10 years to 31 December 2023, First Super’s Balanced Super option was ranked number 13. lonsec.com.au/super-fund/2024/01/19/media-release-super-funds-sail-through-the-storm-in-2023/. Past performance is not an indicator of future performance.
2 First Super financial planners are authorised representatives of Industry Fund Services Limited (ABN 54 007 016 195, AFSL 232514).
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