Colonial First State delivers double-digit returns
for MySuper members in FY23

• FirstChoice Employer Super balanced fund (Lifestage 1965-69) delivers 10.5% return
• FirstChoice Employer Super growth fund (Lifestage 1975-79) delivers 12.2% return
• Essential Super delivers 10.7% return 

20 July 2023 Colonial First State (CFS) today announces double-digit returns for members of its default superannuation MySuper products over the year to 30 June 2023.

FirstChoice Employer Super’s balanced fund (Lifestage 1965-69) delivered a 10.5% return, while FirstChoice Employer Super’s growth fund (Lifestage 1975-79) delivered a 12.2% return.

CFS also achieved a 10.7% return for Essential Super members over the financial year. 

“We are delighted with the investment performance we have able to achieve for our members over what has been a volatile period in investment markets,” said Kelly Power, Chief Executive Officer of Colonial First State Superannuation.

“This is testament to the depth and capability of our new investment team and our ongoing commitment to be Australia's first choice for retirement and investment savings,” said Ms Power.

“We have made substantial investments in the business over the past 12 months and remain focused on delivering outstanding value and unparalleled capability for our customers and their financial advisers that support them,” added Ms Power.

Over the last two year the group has made significant changes to deliver strong investment performance for members. These include the appointment of BlackRock to strengthen investment capability and the appointment of a new Chief Investment Officer. 

Jonathan Armitage, Colonial First State’s Chief Investment Officer, said the strong investment performance over the year has largely been driven by strong returns in global and domestic equities.

 “We have also seen good relative returns from fixed income in what has been a very challenging market, which has helped us achieve a such a strong result,” he said. 

“Looking ahead, we see significant valuation discrepancies across unlisted assets between different asset holders. CFS is in a strong position to capitalise on those opportunities and continue delivering strong returns for members through our disciplined investment approach.”