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About us

For over 30 years, we’ve been freeing Australians from financial complexity so they can unleash.

Our people

Our people

Our diverse workforce of highly-skilled and innovative employees are supported by our executive team and board of directors.



We value our people and encourage career progression, flexible working arrangements and an inclusive culture.

Responsible investing

Responsible investing

We believe investing in ESG can have a positive impact on performance and the long-term outcomes for our customers.

Kelly Power

A message from Kelly Power, Chief Executive Officer of Superannuation

At CFS, we’re passionate about helping Australians achieve financial
freedom in retirement. We've helped over three million Australians with their investment, superannuation and retirement needs since 1988


Our strong, long-term performance, low fees and access to a wide range of investment options from the world’s leading investment managers is why we are are one of Australia's leading superannuation companies

A focus on delivering strong performance backed by expert service is why we're consistently awarded

Money magazine

Best of the Best



Highest Super Performer - FirstChoice Employer - CFS Geared Share Select

Money magazine

Best of the Best



Best Fixed Interest Pension Product

- FirstChoice Wholesale Pension - First Sentier Global Credit Income

Money magazine

Best of the Best



Highest Pension Performer - FirstChoice Wholesale Pension - CFS Geared Share 

How can we help today?

ASIC reference checking and information protocol


As set out in the ASIC reference checking and information sharing protocol, you can contact us to submit your reference request to:




Please include a copy of the prospective representative's completed consent form with your reference request submission.

Summary of Conflicts Management Policy


Colonial First State (“CFS”) has an established conflicts management policy that outlines its requirements regarding the identification of organisational and personal conflicts that may arise through the provision of our products and services and how they are avoided and addressed.


Our conflicts management policy is a key component of our conflicts management framework and is a primary means for communicating our approach to the management of conflicts across CFS‘s business operations in its capacity as RSE Licensee. CFS must take all reasonable steps to identify conflicts and avoid (wherever required or appropriate to do so) in accordance with the policy or otherwise prudently address actual, potential or perceived conflicts. The policy applies to CFS, its responsible persons and employees (collectively referred to as “our representatives”) and outlines how we: 

  • identify any relevant duties and relevant interests of CFS and its responsible persons;
  • identify and monitor all potential and actual conflicts;
  • avoid conflicts unless:
    • they can be addressed prudently and fairly; and
    • priority can be given to the interests of members;
  • address a conflict (in the event of a conflict arising that cannot be avoided) ensuring that the conflict is prudently addressed in accordance with the requirements of our policy, with priority given to the duties to, and interests of, beneficiaries;
  • ensure that appropriate action is taken in the event of a conflict arising, including ongoing evaluation of arrangements to ensure conflicts are addressed and escalated or alternative action taken if required; and
  • record in the minutes of relevant Board and committee meetings, details of each conflict identified and the action taken to avoid or prudently address the conflict.


Our representatives are required to be aware of circumstances that can give rise to a conflict and be able to identify when a conflict arises and disclose this information accordingly. Responsible persons are also required to disclose any relevant duties and relevant interests prior to their appointment and on an ongoing basis. Relevant duties and relevant interests of CFS as RSE Licensee and its responsible persons are recorded and maintained in the CFS RSE Licensee Register of Relevant Duties and Register of Relevant Interests. For further information and content contained in this register please refer below.


Regular reviews and enquiries are also undertaken to ensure we identify all conflicts arising from CFS’s relationship, or the relationship of a responsible person or employee, with an existing or prospective service provider, adviser or other personal or business interests, including any conflicts that have the potential to affect the service provider’s performance in respect of the obligations undertaken for CFS’s business operations.


Compliance with our conflicts management policy is monitored on an ongoing basis and the policy is reviewed periodically to ensure it remains adequate and operating effectively.


Acknowledgements: APRA Superannuation Prudential Standard SPS521, APRA Superannuation Practice Guide SPG 521.


RSE Licensee Register of Relevant Duties and Register of Relevant Interests


To assist in the identification and management of potential and actual conflicts, CFS maintains an RSE Licensee Register of Relevant Duties and Register of Relevant Interests. The registers contain up-to-date information of any Relevant Duties and Relevant Interests that apply to Avanteos Investments Limited as RSE Licensee under CFS, and its Responsible Persons.

The following information includes how the Trustee manages and runs your superannuation products, including Fund documents.

Avanteos Investments Limited

Avanteos Investments Limited (AIL) has been helping Australian investors to manage and build their wealth since 1988. 


Having launched the highly successful FirstWrap platform in 2009, AIL was the responsible entity in charge of the delivery and administration of FirstWrap IDPS accounts and the Trustee of the FirstWrap superannuation and pension accounts. 


Today, AIL manages more than $110.7 billion* on behalf of members as the trustee for Colonial First State (CFS) super and pension products, which comprises FirstChoice and FirstWrap. 


CFS, which includes AIL and Colonial First State Investments Limited (CFSIL), has close to 1 million members who choose CFS for their super, investments or retirement savings and is one of Australia’s largest private payer of pension benefits.


CFS’s passion for high performance, service and innovation has made it one of the most consistently awarded platform providers in the country.

AIL is the trustee company that manages CFS super funds. These include FirstChoice super and pension products and CFS wrap super and pension products. 


Established in 1988, AIL was previously the operator, administrator and custodian (IDPS operator) for CFS wrap IDPS products, including FirstWrap.

Yes, AIL is a subsidiary of Superannuation and Investments HoldCo Pty Limited which is known as Colonial First State, one of Australia’s leading wealth management groups.

AIL is a wholly owned subsidiary of CFS which is majority owned (55%) by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia holding a significant minority interest (45%).


KKR is a leading American global investment firm with over four decades of experience investing across a number of strategies and assets classes – such as private equity, real estate, energy, infrastructure and credit – in addition to capital markets activities.

Member super funds invested with CFS are held in a trust structure. This means the super trustee (AIL) holds the assets of the super fund in trust for members and other beneficiaries of the fund.


Some of the most important duties of a trustee are to:

  • act in the best financial interest of members
  • act honestly and fairly
  • invest trust funds responsibly (exercising due diligence, care and skill)
  • act impartially toward beneficiaries and different classes of beneficiaries.


A super trustee must comply with extensive regulatory requirements, and is subject to significant government regulatory supervision and oversight.

Member funds invested with CFS (including AIL) are held in a trust structure and strictly regulated to protect members' interests.


CFS superannuation funds comply with all relevant Australian laws and regulations, including the Superannuation Industry (Supervision) Act and the Corporations Act and are regulated by both the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investment Commission (ASIC).

* Funds under administration (FUA) for AIL after the transition is based on FUA held by AIL and CFSIL in January 2022. 

Whistleblower Policy


At Colonial First State (CFS), speaking up is a critical component of our values expectations. We are committed to fostering a culture where our people, suppliers and other third parties feel safe and are encouraged to report on matters or conduct that concern them. The CFS Whistleblower Policy aims to provide clarity on how our people, suppliers and other third parties can express their concerns and what will happen if they do.


Contact Stopline

  • Phone: 1300 30 45 50 (Australia Only) 
    Calls will be received by Stopline on Business Days between 8.00 AM and 6.00 PM (AEST). Outside these times, the Discloser may leave a voicemail or choose to speak with Stopline. If a voicemail is left with sufficient details, Stopline will return the call upon resumption of the hotline’s normal business hours. 
  • Mail: Attn.: Colonial First State, c/o Stopline 
    PO Box 403
    Diamond Creek
    VIC 3089
  • Email: makeareport@stopline.com.au
  • Website: https://cfs.stoplinereport.com/ 
  • Via Smartphone: 


Or contact a nominated person as listed in the policy


Work, Health, Safety and Wellbeing Policy


Colonial First State (CFS) is committed to providing a safe and healthy place to work. We aim to eliminate or mitigate all risks to physical and psychological health, as far as practicable, and comply with all applicable legislation and regulations. Our Work Health, Safety & Wellbeing Policy sets out how CFS will deliver on our commitments. This policy applies to all workers who work for, or provide services to CFS, and to all visitors to our workplaces.



Proxy Voting and Voting Rights


Colonial First State Investments Limited (CFSIL), as the responsible entity, appoints investment managers that are empowered to take responsibility for most aspects of corporate governance in relation to the assets held by Colonial First State’s funds. CFSIL’s policy on voting has the following principles:

  • CFSIL has mandated appointed investment managers to vote resolutions for Australian listed companies on our behalf;
  • CFSIL requires appointed investment managers voting on behalf of CFSIL to have a Proxy Voting Policy and confirms every two years as part of the CFSIL operational due diligence process
  • The investment manager is obliged to act in the best interests of all unit holders in the managed investment scheme
  • CFSIL engages a third-party proxy adviser to provide voting recommendations for non-Australian listed companies. CFSIL agrees with the providers’ corporate governance principles and voting guidelines. The final right to vote for most non-Australian listed companies stays with CFSIL. There are instances where CFSIL has mandated the appointed Investment manager to vote resolutions for non-Australian listed companies.



Policies for Suppliers


CFS Standard Terms and Conditions


This document contains the standard terms and conditions that CFS uses to issue Purchase Orders to suppliers.  We are in the process of implementing a Source to Pay Technology solution and will be sharing increased functionality in the coming months to help us collaborate with suppliers.


NOTE:  These are CFS standard terms and conditions of supply. If you are concerned about any term or condition of these terms and conditions, please contact CFSProcurement@cfs.com.au



CFS Third Party Code of Conduct


The Third Party Code of Conduct outlines our commitments to, and our expectations of Third Parties that provides goods or services to or on behalf of CFS, including sub-contractors.

At Colonial First State we’re proud of the difference we make by supporting a number of initiatives that benefit our community.


We acknowledge the Traditional Owners of Country throughout Australia and respect the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples. We pay our respects to the Elders and Traditional Custodians past, present and emerging.

Annual financial reports


Avanteos Investments Limited ABN 20 096 259 979


Super and Pension Funds    


Product USI Super Fund Name Super Fund ABN
CFS Edge Super and Pension 38 876 896 681 012 Avanteos Superannuation Trust 38 876 896 681
FirstChoice Wholesale Personal Super FSF0511AU Colonial First State FirstChoice Superannuation Trust 26 458 298 557
FirstChoice Employer Super FSF0361AU Colonial First State FirstChoice Superannuation Trust 26 458 298 557
FirstChoice Wholesale Pension FSF0510AU Colonial First State FirstChoice Superannuation Trust 26 458 298 557
FirstWrap Plus Super and Pension 38 876 896 681 001 Avanteos Superannuation Trust 38 876 896 681
FirstWrap Super and Pension (Closed) 38 876 896 681 010 Avanteos Superannuation Trust 38 876 896 681

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