Revealed: The 10 best-performing super funds over the past 10 years
Super funds had a terrible year, but a great decade. Here are the 10 funds that have performed best over the long term.
Yes, super funds had a bad year in 2022.
Most of the default growth funds (these are funds with 60–80% allocation to growth assets) ended the year with a negative return, due to the falls in global share markets as a result of rising inflation.
In fact even the best-performing growth fund for 2022, CareSuper Balanced, returned -2.0% for members according to super research firm Chant West.
Big name industry funds Hostplus and AustralianSuper also delivered negative returns, with -2.5% and -2.7%, respectively.
However, superannuation is a long-term investment, perhaps the longest investment you'll ever make.
So when comparing super funds, look at the long-term performance figures, as these show a much more accurate picture of how the fund has performed on average over many years.
Top 10 Best-performing super funds over 10 years
| Super fund | 10 year % p.a.* | 50k fees | |
|---|---|---|---|
| Hostplus – Balanced | 8.39% | $625.26 | |
| AustralianSuper – Balanced | 8.04% | $387 | |
| Australian Retirement Trust – Balanced | 8.22% | $472.40 | |
| UniSuper – Balanced | 7.89% | $406 | |
| Cbus – Growth | 7.74% | $412 | |
| CareSuper – Balanced | 7.59% | $458 | |
| HESTA – Balanced Growth | 7.66% | $457 | |
| Legal Super MySuper Balanced | 7.22% | $607.60 | |
| Vision Super Balanced Growth | 7.72% | $373 | |
| Aware Super – Growth |
*Performance returns for period ending December 2022 according to Chant West.
Even though all 10 funds above returned a negative result for 2022, over the past decade they've managed to return over 8.0% p.a. on average for members.
This is actually ahead of target, according to Chant West senior investment research manager, Mano Mohankumar. "Over the 30½ years since the introduction of compulsory super in July 1992, the median growth fund has delivered an annualised return of 7.8%, which is 1.7% p.a. ahead of the typical return objective of CPI +3.5% p.a."
Seeing your super fund deliver a negative return one year isn't fun for any of us, but luckily, it's not actually all that common.
"This was the first negative calendar year since 2011 and only the fifth in the full 30 years of compulsory super," Mohankumar said.
"It also comes on the back of a particularly strong 2021, so perhaps we were due for a return to earth given the challenging investment backdrop. Most importantly, members should take comfort in the fact that funds are continuing to meet their long-term return objectives."
If you haven't checked how your fund is preforming for a while, it could be time to compare super funds and make the switch.
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The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.
*Past performance data and fee data is for the period ending October 2024
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Ask a question
Looking for a good super that invests in property on top of a decent return
Hi Kirk, you can compare super funds here: https://www.finder.com.au/super-funds
Using the filters on the left side, if you and select ‘High growth’ and untick the box that says “Only show products with direct links & enquiry options” you’ll see heaps of options for high-growth funds, including many that are focused on property.
Thanks,
Alison