Overview
Our Australian Shares option invests in a portfolio of companies listed on the Australian Securities Exchange (ASX). The option is passively managed meaning it will closely match the benchmark.
Why you’d invest
May suit members who:
- want to invest in Australian shares at low cost,
- seek strong long-term returns,
- can accept the ups and downs of investing in the share market, including periods of negative returns, and
- are prepared to stay invested in the option for 10 years or longer.
Understanding passive management
Passive managers, also known as index managers, choose investments to form a portfolio that closely tracks a market benchmark (or index). Passive managers usually charge lower fees because they don’t need extensive resources to select investments.
Account type
- Future Saver
- Retirement Transition
- Retirement Income*
Investment objective
To track the return of the Aware Super Custom Index on MSCI Australia Shares 3001 before fees, costs and tax.
Timeframe
10 years
Minimum suggested investment timeframe.
Risk
Estimated number of negative annual returns over any 20-year period:
6 or more times
Short-term risk:
7 - Very High
Long-term risk:
2 - Low
1 A custom index calculated by MSCI based on the Responsible Ownership criteria provided by Aware Super. This benchmark excludes, or has a reduced weighting to, some of the most carbon intensive companies. In accordance with our fund-wide investment restrictions, companies generating revenue from tobacco, thermal coal or controversial weapons (above applicable materiality thresholds) are also excluded. See the ‘Carbon-constrained benchmarks’ and ‘Responsible Ownership’ sections of the relevant PDS or Handbook for more information.
2 Includes ‘Investment fees and costs’ and ‘Transaction costs’, excludes ‘Administration fees’. Indicative only based on historical fee and cost data as at 30 June 2025. The amount you’ll pay in future years will depend on the fees and costs incurred by the trustee in managing the investment option. Other fees and costs may apply. Refer to the relevant PDS or Handbook for more information.
Spreading your super across different types of assets is called diversification. This can help reduce the risk of negative returns. Keep in mind that if you:
- choose one or more of the single asset class options, and
- don’t adequately diversify your investments,
you could be exposing your super to greater risk.
Asset allocation
Below are the option’s asset allocation targets and ranges, effective 30 September 2025.
Scroll table horizontally on mobile
| Australian Shares | Target | Range |
|---|---|---|
| Australian shares | 100% | 95 - 100% |
| Cash | 0% | 0 - 5% |
Investment objective
To track the return of the Aware Super Custom Index on MSCI Australia Shares 3001 before fees, costs and tax.
Timeframe
10 years
Minimum suggested investment timeframe.
Risk
Estimated number of negative annual returns over any 20-year period:
6 or more times
Short-term risk:
7 - Very High
Long-term risk:
2 - Low
1 A custom index calculated by MSCI based on the Responsible Ownership criteria provided by Aware Super. This benchmark excludes, or has a reduced weighting to, some of the most carbon intensive companies. In accordance with our fund-wide investment restrictions, companies generating revenue from tobacco, thermal coal or controversial weapons (above applicable materiality thresholds) are also excluded. See the ‘Carbon-constrained benchmarks’ and ‘Responsible Ownership’ sections of the relevant PDS or Handbook for more information.
2 Includes ‘Investment fees and costs’ and ‘Transaction costs’, excludes ‘Administration fees’. Indicative only based on historical fee and cost data as at 30 June 2025. The amount you’ll pay in future years will depend on the fees and costs incurred by the trustee in managing the investment option. Other fees and costs may apply. Refer to the relevant PDS or Handbook for more information.
Spreading your super across different types of assets is called diversification. This can help reduce the risk of negative returns. Keep in mind that if you:
- choose one or more of the single asset class investment options, and
- don’t adequately diversify your investments,
you could be exposing your super to greater risk.
Asset allocation
Below are the option’s asset allocation targets and ranges, effective 30 September 2025.
Scroll table horizontally on mobile
| Australian Shares | Target | Range |
|---|---|---|
| Australian shares | 100% | 95 - 100% |
| Cash | 0% | 0 - 5% |
Investment objective
To track the return of the Aware Super Custom Index on MSCI Australia Shares 3001 before fees, costs and tax.
Timeframe
10 years
Minimum suggested investment timeframe.
Risk
Estimated number of negative annual returns over any 20-year period:
6 or more times
Short-term risk:
7 - Very High
Long-term risk:
2 - Low
*As the Aware Super Term Allocated Pension (TAP) invests in the same way as Aware Super Retirement Income, this information also applies to members in the TAP.
1 A custom index calculated by MSCI based on the Responsible Ownership criteria provided by Aware Super. This benchmark excludes, or has a reduced weighting to, some of the most carbon intensive companies. In accordance with our fund-wide investment restrictions, companies generating revenue from tobacco, thermal coal or controversial weapons (above applicable materiality thresholds) are also excluded. See the ‘Carbon-constrained benchmarks’ and ‘Responsible Ownership’ sections of the relevant PDS or Handbook for more information.
2 Includes ‘Investment fees and costs’ and ‘Transaction costs’, excludes ‘Administration fees’. Indicative only based on historical fee and cost data as at 30 June 2025. The amount you’ll pay in future years will depend on the fees and costs incurred by the trustee in managing the investment option. Other fees and costs may apply. Refer to the relevant PDS or Handbook for more information.
Spreading your super across different types of assets is called diversification. This can help reduce the risk of negative returns. Keep in mind that if you:
- choose one or more of the single asset class investment options, and
- don’t adequately diversify your investments,
you could be exposing your super to greater risk.
Asset allocation
Below are the option’s asset allocation targets and ranges, effective 30 September 2025.
Scroll table horizontally on mobile
| Australian Shares | Target | Range |
|---|---|---|
| Australian shares | 100% | 95 - 100% |
| Cash | 0% | 0 - 5% |
You can choose to invest in one option or a combination of options. And you can switch your investment options at any time for free.
Frequently asked questions
We’re here to help you achieve your financial goals. We can provide simple financial advice, over the phone, to answer any questions.
You can speak to a qualified financial planner who can help you make investment choices that meet your financial goals.