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Conservative Balanced Socially Conscious

Our Conservative Balanced Socially Conscious option targets 57% in growth assets like shares and private equity, and 43% in defensive assets like cash.
Donut chart showing a portfolio allocation targeting 57% growth assets and 43% defensive assets, with the defensive segment in light pink and the growth segment in dark purple.
May be suitable if you:
  • are seeking a balance between capital stability and capital growth while also investing in a socially-conscious way
  • can accept some short-term fluctuations including negative returns in some years
  • are prepared to stay invested in the option for 5 years or longer.
Available for these accounts:
  • Retirement Income
  • Term Allocated Pension (TAP)
Socially Conscious investment options

This option has been certified by the Responsible Investment Association Australasia under the Responsible Investment Certification Program*

It excludes or restricts investments Aware Super considers to have a highly adverse environmental or social impact.

Investments in our Socially Conscious options are chosen and managed according to additional and stricter restrictions known as ‘screens’. The screens are grouped into three categories: climate change screens, ethical screens and conventions and controversies-based screens.

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Certified by RIAA
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Summary

Investment objective

CPI + 3.25% p.a.

Over rolling 10-year periods after investment fees and costs and tax

Timeframe

5 years

Minimum suggested investment timeframe

Fees

0.34%

Investment fees and costs and transaction costs

Fees listed above include ‘Investment fees and costs’ and ‘Transaction costs’ and exclude ‘Administration fees’. Indicative only based on historical fee and cost data as at 30 June 2026. 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. Learn more about our fees and costs

Understanding account types
  • A Retirement Income account is for when you’ve retired from work. Invest your super in a tax-effective way, while you enjoy regular payments.[M5]
  • A Term Allocated Pension (TAP) invests in the same way as Aware Super Retirement income. The TAP is closed to new members. See the PDS for more information.

Level of risk

Estimated number of negative annual returns over any 20-year period:

2 to less than 3 times
Short-term risk

4 – Medium

Short-term risk measures the effect of market ups and downs on your balance, based on the likelihood of a negative annual return in a given year. 

Long-term risk

2 – Low

Long-term risk is the risk that your investment doesn’t generate enough of a return above inflation over the long term to maintain living standards in retirement. 

What it invests in

The Conservative Balanced Socially Conscious option excludes or restricts investments Aware Super considers to have a highly adverse environmental or social impact. The option is diversified across a wide range of listed and unlisted asset classes with a slight focus on growth assets.

Below are the option’s asset allocation targets and ranges.

Asset classTargetRange
Australian shares18%8–28%
International shares22.5%12–33%
Private equity4%0–25%
Infrastructure9.4%0–31%
Property7.5%0–28%
Credit income6.9%0–28%
Fixed income21%0–39%
Cash10.7%0–60%

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Get all your super questions answered by someone who gets it.[AD2] 4,873 members had check-ins last year to talk through their super options.[AD4]
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Last updated: September 2026

[AD2] Members can get advice about their Aware Super accounts at no extra cost, or advice on their broader needs for a fee.

[AD4] Aware Super data, member super check-ins from December 2024 - November 2025.

*The RI Certification Symbol is issued by Responsible Investment Association Australasia (RIAA) ACN (641 046 666), AFSL (554110) and signifies that a product or service offers an investment style that takes into account environmental, social, governance or ethical considerations. The Symbol also signifies that the High Growth Socially Conscious, Balanced Socially Conscious, Conservative Balanced Socially Conscious and Conservative Socially Conscious investment options adhere to the operational and disclosure practices required under the Responsible Investment Certification Program for the category of Product and are assessed against RIAA's Responsible Investment Standard. The Certification Symbol is a Trademark of RIAA. For detailed information about RIAA, the Symbol and Aware Super's methodology, performance, stock holdings, remuneration and details about other responsible investment products certified by RIAA, refer to www.responsiblereturns.com.au and the RIAA Financial Services Guide. The Responsible Investment Certification Program provides general advice only and does not take into account any person's objectives, financial situation, or needs. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Because of this, you should consider your own objectives, financial situation and if the advice relates to the acquisition, or possible acquisition, of a particular financial product. Certifications are current for 24 months and subject to change at any time.