Aware Super maintains strong performance in FY26

Aware Super has delivered positive returns across all investment options for the 2025-26 financial year, with its flagship High Growth option, which most members are invested in, delivering more than 9% per annum over 10 years.

The High Growth option returned 8.54%, for the 12 months to 30 June 2026, and has returned 9.63% per annum over 10 years.¹

The High Growth option is expected to maintain its position in the top ten performance ranking of comparable super fund investment options².

Head of Investment Strategy Michael Winchester said the result reflected the fund's consistent, long-term investment philosophy in action.

“That long-term consistency reflects Aware Super's investment philosophy: active management, genuine diversification, and a focus on structural themes rather than chasing short-term market momentum.”

Diversification a buffer against market volatility

Aware Super's portfolio is strategically diversified across asset classes, geographies and investment styles. Approximately 25% of the total portfolio (as at 30 June 2026) is in private markets, including infrastructure, private equity and unlisted property, which helped buffer returns during last year’s geopolitics-inspired market volatility.

Credit income and defensive assets also cushioned volatility, while the fund's exposure to structural growth themes - digital infrastructure, the energy transition and residential property - continued to generate returns.

Mr Winchester said the breadth of Aware Super's portfolio was a fundamental advantage. "Our scale and expertise give us access to private market opportunities that many funds simply cannot reach. That diversification is not just about reducing risk, it is about capturing long-term returns that aren't available in public markets."

Lifecycle key to maximising long-term savings

Aware Super's Lifecycle investment approach, the MySuper default option for our accumulation members, keeps younger members invested in higher-growth options for longer, maximising the compounding of returns at the stage of life when members can absorb more short-term volatility.

This means younger members benefit more from years like the past decade, where the High Growth option compounded at more than 9% per annum.

Members aged over 55 are gradually transitioned into the Conservative Balanced option, which maintains exposure to growth assets while increasing defensive holdings -helping to manage the impact of any large market falls in the critical years before retirement.

Retirement income that keeps working

Aware Super delivered 6.24% in FY26 in its Retirement Income Conservative Balanced option, the choice for the majority of its retirees, with 10-year returns averaging 7.05% per annum¹.

The result reflects Aware Super's focus on building portfolios that deliver steady, reliable income through retirement, helping members' savings keep pace with the cost of living over the long term.

Aware Super was named Chant West Pension Fund of the Year in 2026⁴ for the third consecutive year, a recognition of its sustained performance and leadership in retirement solutions.

Investment outlook

Looking ahead, Aware Super sees the global economy shaped by two strongly opposing forces: the continued boom in AI-related capital investment on one hand, and rising geopolitical and energy risks on the other.

The US economy remains resilient, supported by domestic business investment driven by reshoring and AI infrastructure. Inflation is expected to subside as energy pressures ease. In Australia, the economy has not stalled but is not yet firing on all cylinders, and Aware Super is watching employment trends closely.

"AI investment is driving significant capital expenditure across the global economy and we expect it to support productivity growth over the longer term," Mr Winchester said.

"We have been building our exposure to this theme carefully and deliberately through high-quality assets tied to genuine long-term demand."

The fund also completed delivery of Project Odin in FY26, a major technology and data platform upgrade designed to enhance ongoing investment performance.

“The platform is now being used to improve execution quality, data analytics and portfolio construction, capabilities that the investment team expects to support incremental performance improvement over time,” Mr Winchester said.