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There’s a lot to smile about with Mercer Super’s default options achieving a return of 11.2% in FY24.1
And with the super guarantee rate now at 11.5%, things are really looking up.
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Double-digit returns are a lot to smile about
Our FY24 results are in, and we're thrilled to share that Mercer SmartPath's default investment options achieved returns between 11.2% and 11.7% for members aged 18 to 55.1
How we did it and looking ahead
Mercer's Pacific Chief Investment Officer, Kylie Willment, said the results were an excellent outcome against a backdrop of market volatility and uncertain economic conditions.
"Equity markets enjoyed a very good year as inflationary pressures slowed. The US equity market was a particularly strong performer – up 24%2 for the year. Bond market returns were modest and returns for unlisted assets were varied – global infrastructure funds continued to enjoy strong returns, while returns for domestic property funds were weak overall.
"Our portfolio positioning, with a slight bias towards equity markets and underweight to private market assets such as unlisted property, has proven to be a benefit for members over the period," she said.
Looking ahead, Ms Willment added, "We expect market volatility to remain high over the next 12 to 18 months against a backdrop of key elections. The global economic outlook, however, has improved as unemployment is expected to remain low and there is potential for interest rates to be lowered as inflation continues to moderate.
"As a result, we remain focused on maintaining the appropriate level of risk and diversification for our default investment options, supporting retirement outcomes now and in the future."
Kylie Willment
Chief Investment Officer
Mercer Pacific
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Past performance is not a reliable indicator of future performance.
1. Mercer Super Trust’s analysis of the Mercer SmartPath investment performance (after investment fees and taxes) for the 2023/24 financial year. Mercer SmartPath default investment options achieved returns for members invested for the entire 2023/24 financial year of between 11.2% and 11.7% for age-based cohorts between 18 and 55 years old. For all age-based cohorts over age 55, Mercer SmartPath default investment options achieved returns between 7.2% and 10.2%.
2. S&P500 Net Total Return in USD, 30 June 2024.
3. ChantWest MySuper Default Fee Tables June 2024 – for $50,000 and $100,000 account balances. Fees are for Mercer SmartSuper - SmartPath® (our MySuper product) as at 30 June 2024 for total administration fees and costs. Chant West uses our 1964-1968 investment option for purposes of comparison with other MySuper funds. You may pay less than this if you are in an employer plan with discounted fees. For more details on fees for each of our SmartPath options, or if you’ve chosen your own investment option/s, go to the ‘How Your Super Works' guide online. Fees and costs can vary from year to year. Past fees and costs are not a reliable indicator of future fees and costs. Fees and comparisons may differ for other investment options and account balances.
4. Combining your super can be a significant financial decision. If you decide to combine all or part of your other super account(s), carefully consider how this may have an impact on your existing insurance, contribution and tax arrangements, fees or charges, or any other benefits you may lose. If you intend to claim a tax deduction on your personal contributions, you will need to provide your existing fund with a notice of intent to claim and receive confirmation it's been processed before combining your super. We recommend you seek financial advice before deciding whether to combine your super accounts.
5. Mercer Super has been recognised with several SuperRatings awards, including SuperRatings' highest platinum rating for both our Allocated Pension Division (now known as Mercer SmartRetirement Income) and Corporate Superannuation Division products. Mercer SmartRetirement Income and the Corporate Superannuation Division products also received SuperRatings Platinum Performance awards, based on investment returns, fees, insurance, member servicing, administration and governance for 7 and 15 years respectively. The rating is issued by SuperRatings Pty Ltd (SuperRatings) ABN: 95 100 192 283 a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, AFSL No. 421445 (Lonsec Research). Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and SuperRatings assumes no obligation to update. SuperRatings use proprietary criteria to determine awards and ratings and may receive a fee for the use of its ratings and awards. Visit superratings.com.au for ratings information. © 2024 SuperRatings. All rights reserved.
The WeMoney Awards are issued by WeMoney Pty Ltd (WeMoney) ABN 88 633 007 860. Mercer Superannuation (Australia) Limited (MSAL) ABN 79 004 717 533 has an agreement with WeMoney which permits MSAL to disclose the WeMoney Awards it has received. MSAL pays WeMoney a licence fee. Details about the WeMoney Awards program and methodology are available at wemoney.com.au.
Issued by Mercer Superannuation (Australia) Limited ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust (‘Mercer Super’) ABN 19 905 422 981. The material contained on this website is based on information received in good faith from sources within the market and on our understanding of legislation and government press releases at the date of publication which we believe to be reliable and accurate. Neither Mercer nor any of its related parties accepts any responsibility for any inaccuracy. Prior to acting on any information contained on this website, you need to consider the appropriateness of the advice taking into account your own objectives, financial situation and needs, consider the Product Disclosure Statement for any product you are considering, and seek professional advice from a licensed, or appropriately authorised financial adviser if you are unsure of what action to take. The product Target Market Determination can be found at mercersuper.com.au/tmd. The value of an investment in the Mercer Super Trust may rise and fall from time to time. The investment performance, earnings or return of capital invested are not guaranteed.
‘MERCER’ and ‘Mercer SmartPath®’ are Australian registered trademarks of Mercer (Australia) Pty Ltd ABN 32 005 315 917.