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High Growth

Our High Growth option targets 86% in growth assets like shares and private equity, and 14% in defensive assets like cash.
Donut chart showing a portfolio allocation targeting 86% growth assets and 14% defensive assets, with the defensive segment in light pink and the growth segment in dark purple.
May be suitable if you:
  • seek to maximise long-term returns
  • want to invest in a diversified portfolio of primarily growth assets
  • can accept significant fluctuations in returns, including negative returns, over the short term
  • are prepared to stay invested in the option for 10 years or longer.
Available for these accounts:
  • Future Saver
  • Retirement Transition
  • Retirement Income
  • Defined Benefit - Telstra Plan Voluntary Accumulation Account (DB VAA)
  • Term Allocated Pension (TAP)  
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Summary

Investment objective

CPI + 4.00% p.a.

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

Timeframe

10 years

Minimum suggested investment timeframe

Fees

0.52%

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

Investment objective

CPI + 4.00% p.a.

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

Timeframe

10 years

Minimum suggested investment timeframe

Fees

0.52%

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

Investment objective

CPI + 4.50% p.a.

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

Timeframe

10 years

Minimum suggested investment timeframe

Fees

0.50%

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

For both of these accounts, you and your employer can make before and after-tax contributions to grow your super, and you can continue to manage your account as your needs change.

  • A Retirement Transition account is for when you still receive a regular income, but you’re ready to reduce your working hours. Use your super savings to pay some of your salary.
  • 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:

4 to less than 6 times
Short-term risk

6 - High

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. 

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

4 to less than 6 times
Short-term risk

6 - High

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. 

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

4 to less than 6 times
Short-term risk

6 - High

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

This option invests in a range of asset types (listed and unlisted), investment managers and styles.

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

Asset classTargetRange
Australian shares28.5%18-39%
International shares38.5% 28-49%
Private equity6.5%0-27%
Infrastructure10.4%0-32%
Property6.5%0-27%
Liquid alternatives (growth)0.5%0-21%
Liquid alternatives (defensive)0%0-10% 
Credit income2.4%0-23%
Fixed income0%0-10%
Cash6.7%0-15%
Asset classTargetRange
Australian shares28.5%18-39%
International shares38.5% 28-49%
Private equity6.5%0-27%
Infrastructure10.4%0-32%
Property6.5%0-27%
Liquid alternatives (growth)0.5%0-21%
Liquid alternatives (defensive)0%0-10% 
Credit income2.4%0-23%
Fixed income0%0-10%
Cash6.7%0-15%
Asset classTargetRange
Australian shares 30.5%20-41%
International shares36.5% 16-47%
Private equity6.5%0-27% 
Infrastructure10.4%0-32%
Property 6.5%0-27%
Liquid alternatives (growth)0.5% 0-21%
Liquid alternatives (defensive)0%0-10% 
Credit income2.4%0-23%
Fixed income 0%0-10%
Cash6.7% 0-15%

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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.