Full year results place CFS among the highest performing super funds

CFS ended 2023 with double digit investment returns even after significant market uncertainty. We also continued our focus on maintaining highly competitive fees and delivering value for our members. 


A key call-out is the above-median double digit returns to 31 December 2023 for members of Lifestage balanced and growth funds. A large proportion of members are invested in these options.

  • FirstChoice Employer Super balanced fund (Lifestage 1965-69) delivered 11.8% return
  • FirstChoice Employer Super growth fund (Lifestage 1975-79) delivered 13.2% return.

These results are on top of the double-digit returns for the financial year ending 30 June 2023. 


Other balanced and growth investments also delivered strongly for members. The CFS Enhanced Index balanced fund and CFS Enhanced Index Growth fund both delivered above median members returns of 11.6% and 12.5% respectively.


Our sustainable investment option, Thrive+ sustainable growth, delivered double digit returns over the same period at 15.1%. This demonstrates that a sustainable growth fund can deliver compelling returns for investors while also making a positive contribution to the environment. 


These results place CFS among the highest performing super funds in 2023, significantly outperforming the median balanced and growth fund returns as reported by Super Ratings and Chant West. 

What helped drive these results?


The continuing strong performance is testament to the capability of CFS’ investment team as well as a disciplined investment approach.


Over the past year we have been focused on bringing industry-leading expertise to expand our capabilities in areas such as active risk and portfolio management.  This is driving good investment outcomes for our members which we expect to continue in the year ahead.

What does the year ahead hold?


Jonathan Armitage, our Chief Investment Officer, believes inflation data will continue to be volatile in 2024 so diversification and active risk management will be critical components of portfolio construction in the year ahead.  He also noted there are opportunities we’ll be looking to capitalise on, including valuation discrepancies across unlisted assets.

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Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products. Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the responsible entity and issuer of products made available under FirstChoice Investments and FirstChoice Wholesale Investments.


Information on this webpage is provided by AIL and CFSIL. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at  https://www.cfs.com.au/tmd which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling us on 13 13 36.