Our investment options

Below you’ll find the details of our range of investment options. You can mix and match your options to suit your goals, your timeframe and your preferred level of risk. So when your needs change, so can your investment options.

Key aspects of Vision Super’ options are outlined in the sections below. The listed equity asset classes are managed with an approach that aims to provide meaningfully less carbon-intensive exposure versus the respective benchmarks (based on ISS data on scope 1 and 2 carbon intensity levels.). The listed equity asset classes are also managed with exclusions of companies that are involved in the production of tobacco as well as companies that derive more than 5% of their revenues from the manufacture of critical components in controversial weapons as determined by ISS Datadesk. More detail on the approach is available in Vision Super’s ESG Policy.

Premixed options

Premixed options are made up of multiple asset classes, like shares, property, cash and bonds. They are more diversified to meet different risk and performance goals.

Conservative
Investment objective (super)*This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 1.5% per annum over rolling 15-year periods.
Investment objective (pensions)*This option aims to outperform (after fees) the rate of increases in inflation as measured by the CPI by 2.0% per annum (1.5% per annum for NCAP) over rolling 15-year periods.
StrategyTo invest in a diversified portfolio with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class.
Estimated frequency of a negative annual return
1 to less than 2 in 20 years.
Minimum investment timeframe4 years.
Who should invest in this option?Members who wish to select a less aggressive asset allocation than the Balanced growth option in exchange for more stability of return.
Summary risk levelThe risk level of this option is low to medium.
Retirement bonus Members invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information
Benchmark asset allocation

(indicative ranges in brackets)

Balanced
Investment objective (super)*This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 2.0% per annum over rolling 15-year periods.
Investment objective (pensions)*This option aims to outperform (after fees) the rate of increases in inflation as measured by the CPI by 2.75% per annum (2.0% per annum for NCAP) over rolling 15-year periods.
StrategyTo invest in a diversified portfolio with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class
Estimated frequency of a negative annual return
3 to less than 4 in 20 years.
Minimum investment timeframe5 years.
Who should invest in this option?Members that have a moderate to high risk tolerance.
Summary risk levelThe risk level of this option is medium to high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information
Benchmark asset allocation

(indicative ranges in brackets)

Balanced low cost
Investment objective (super)*This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 2.5% per annum over rolling 15-year periods.
Investment objective (pensions)*This option aims to outperform (after fees) the rate of increases in inflation as measured by the CPI by 3.25% per annum (2.5% per annum for NCAP) over rolling 15-year periods.
StrategyTo invest in a diversified portfolio with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class.
Estimated frequency of a negative annual return
4 to less than 6 in 20 years.
Minimum investment timeframe7 years.
Who should invest in this option?Members who are prepared to accept a more aggressive asset allocation than the ‘Balanced’ option, and are seeking a lower cost investment option. This option has the potential of providing higher returns, but also increases the risk of a negative return.
Summary risk levelThe risk level of this option is high.
The Balanced low cost option differs from the Balanced option in two ways:> Simpler option with fewer asset classes and fund managers.
> Index-based equities management.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
Benchmark asset allocation

(indicative ranges in brackets)

Balanced growth
Investment objective (super)*This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 3.0% per annum over rolling 15-year periods and to outperform (after fees and taxes) the median default superannuation fund over rolling three year periods, assessed using the SR50 MySuper Index from the SuperRatings Fund Crediting Rate Survey.
Investment objective (pensions)*This option aims to outperform (after fees) the rate of increases in inflation as measured by the CPI by 3.75% per annum (3.0% per annum for NCAP) over rolling 15-year periods.
StrategyTo invest in a diversified portfolio with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class.
Estimated frequency of a negative annual return4 to less than 6 in 20 years.
Minimum investment timeframe6 years.
Who should invest in this option?This option is designed for members who are prepared to accept a more aggressive asset allocation than the ‘Balanced’ option. This option has the potential of providing higher returns, but also increases the risk of a negative return.
Summary risk levelThe risk level of this option is high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
Benchmark asset allocation

(indicative ranges in brackets)

Growth
Investment objective (super)*This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 3.5% per annum over rolling 15-year periods.
Investment objective (pensions)*This option aims to outperform (after fees) the rate of increases in inflation as measured by the CPI by 4.25% per annum (3.5% per annum for NCAP) over rolling 15-year periods.
StrategyTo invest in a diversified portfolio with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class.
Estimated frequency of a negative annual return
4 to less than 6 in 20 years.
Minimum investment timeframe8 years
Who should invest in this option?This option is designed for members who are prepared to accept a more aggressive asset allocation than the ‘Balanced growth’ option. This option has the potential of providing higher returns, but also increases the risk of a negative return
Summary risk levelThe risk level of this option is high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
Benchmark asset allocation

(indicative ranges in brackets)

Single sector options

Single sector options are made up of single asset classes, like Property, Diversified Bonds and Cash. 

Cash
Investment objective *This option aims to outperform (after fees and before taxes) the Bloomberg Ausbond Bank Bill Index over rolling 3-year periods.
StrategyTo invest cash in money market securities such as bank term deposits and bank bills.
Benchmark allocation100% cash
Estimated frequency of a negative annual returnLess than 0.5 in 20 years. Generally, the return from the Cash option is closely aligned with the cash rate that the Reserve Bank of Australia (RBA) targets. Reflecting this, the return is usually not expected to be negative.
Minimum investment timeframeLess than 1 year.
Who should invest in this option?This option is designed for members who wish to select an option that generally has relatively stable and low returns versus the Balanced growth option. This option is expected to have the highest level of return stability of all Vision Super’s options.
Summary risk levelThe risk level of this option is very low.
Retirement bonusMember balances invested in this option are NOT eligible for the Retirement bonus.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Diversified bonds
Investment objective *This option aims to outperform (after fees and before taxes) over rolling 5-year periods:
> 50% Bloomberg Ausbond Composite All Maturities Bond Index and
> 50% FTSE World Government Bond Index ex Australia (hedged in AUD)
StrategyTo invest across a range of fixed interest securities in Australia and overseas.
Benchmark allocation (indicative ranges in brackets)100% Diversified bonds (80–100%)
0% Alternative debt (0–10%)
0% Cash (0–10%)
Estimated frequency of a negative annual return2 to less than 3 in 20 years. Given that inflation risks are higher than normal, there is greater chance of this option experiencing moderately lower returns than is typically the case.
Minimum investment timeframe4 years.
Who should invest in this option?This option is designed for members who wish to select an option that generally has greater stability of return and lower medium-term returns than the Balanced growth option.
Summary risk levelMedium. The Summary risk level is classified as Medium reflecting the estimated frequency of a negative annual return.
Retirement bonusMember balances invested in this option are NOT eligible for the Retirement bonus.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Property (not available for pensions)
Investment objective *This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 2.5% per annum over rolling 15-year periods.
StrategyTo invest in a portfolio of property, predominantly located in Australia. This is through unlisted property funds which invest in office, retail and industrial properties, with small allocations to healthcare and education properties. The property funds used will generally target a moderate level of debt funding. Investment is primarily in existing buildings, but may include some development projects on a build-to-own basis. This option has the capacity to invest in listed real estate vehicles and may also include cash allocations from time-to-time.
Benchmark allocation100% Unlisted property (90 - 100%)
0% Cash (0 - 10%)
Please note that from time to time the investment managers may hold cash.
Minimum investment timeframe8 years,
Estimated frequency of a negative annual return4 to less than 6 in 20 years.
Who should invest in this option?This option is designed for members who are prepared to accept a very concentrated asset allocation. Members should be comfortable with the risks associated with investing across a range of property sectors. Members should note that this option invests in rarely traded assets and is not suitable for a short-term investment horizon.
Summary risk levelThe risk level of this option is high.
Retirement bonusMember balances invested in this option are NOT eligible for the Retirement bonus.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Infrastructure (not available for pensions)
Investment objective *This option aims to outperform (after fees and taxes) the rate of increases in inflation as measured by the CPI by 3.5% per annum over rolling 15-year periods.
StrategyTo invest in a portfolio of Australian and global infrastructure assets. This is through unlisted infrastructure funds which invest in a diverse range of infrastructure sectors such as electricity distribution networks, airports, seaports, pipelines, toll roads, water utilities and other areas. Typically investment will be equity investments and the average gearing level is moderate, but ranges from low to high depending on the asset. Investment is primarily in operating assets, but may include some development projects. This option has the capacity to invest in listed infrastructure and may include cash allocations from time-to-time.
Benchmark allocation100% Infrastructure (90 - 100%)
0% Cash (0 - 10%)
Please note that from time to time the investment managers may hold cash.
Minimum investment timeframe8 years.
Estimated frequency of a negative annual return4 to less than 6 in 20 years on average.
Who should invest in this option?This option is designed for members who are prepared to accept a very concentrated asset allocation. Members should be comfortable with the risks associated with investing in infrastructure assets. These assets typically provide essential services (for example, airports).
Summary risk levelThe risk level of this option is high.
Retirement bonusMember balances invested in this option are NOT eligible for the Retirement bonus.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
International equities
Investment objective *This option aims to outperform (after fees and before taxes) the MSCI All Countries World ex Australia Net Dividends Index, unhedged over rolling 15-year periods.
StrategyTo invest in overseas companies usually listed on one or more overseas stock exchanges, with allocations to both active and index managers.
Benchmark allocation100% international equities. Please note that from time to time investment managers may hold cash.
Estimated frequency of a negative annual return6 or greater in 20 years.
Minimum investment timeframe12 years.
Who should invest in this option?This option is designed for members who are prepared to accept a more aggressive and concentrated asset allocation than the Balanced growth option. This option has the potential to provide higher returns, but also increases the risk of a negative return.
Summary risk levelThe risk level of this option is very high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Australian equities
Investment objective *This option aims to outperform (after fees and before taxes) the S&P/ASX 300 Accumulation Index over rolling 15-year periods.
StrategyTo invest in Australian companies usually listed on the Australian Securities Exchange (ASX) with allocations to both active and index managers.
Benchmark allocation100% Australian equities. Please note that from time to time the investment managers may hold cash.
Estimated frequency of a negative annual return6 or greater in 20 years.
Minimum investment timeframe12 years.
Who should invest in this option?This option is designed for members who are prepared to accept a more aggressive and concentrated asset allocation than the Balanced growth option. This option has the potential to provide higher returns, but also increases the risk of a negative return.
Summary risk levelThe risk level of this option is very high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Innovation and disruption
This option seeks to invest in companies that are expected to grow relatively quickly over the medium term. It is one of our least diversified single sector options. Our single sector options are, by nature, not diversified across asset class sectors, but many are diversified in the underlying investments.

This option is currently invested with one active manager. This may change in the future if additional managers are needed and fit with the option’s strategy. The option is typically unhedged but from time to time this may change depending on our assessment of likely currency movements.

The current manager invests in a small number of companies that are expected to experience strong earnings growth over the medium term. In general, companies in the portfolio utilise innovative techniques in an attempt to achieve sustainable, above market growth. For example, companies that use technology in various forms to power their growth.
Investment objective *This option aims to outperform (after fees and before taxes) the MSCI All Countries ex-Australia Net Dividends Index, unhedged over rolling 15-year periods.
StrategyTo invest in high growth companies globally that are disruptive and innovative within their industry. These companies generally use technology in various forms to power their growth. The companies are usually listed on one or more overseas stock exchanges however there will also be an exposure to unlisted assets in the option.
Benchmark allocation100% international equities. Please note that from time to time investment managers may hold cash.
Estimated frequency of a negative annual return6 or greater in 20 years.
Minimum investment timeframe15 years.
Who should invest in this option?This option is designed for members who are prepared to accept an aggressive and very concentrated asset allocation. This option has the potential to provide higher returns, but also increases the risk of a negative return. This is the highest risk option offered. Members should be comfortable with the risks associated with investing in emerging or developing technologies.
Summary risk levelThe risk level of this option is very high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Just shares
Investment objective*This option aims to outperform (after fees and before taxes) over rolling 15-year periods:
> 45% S&P/ASX 300 Accumulation Index and
> 55% MSCI All Countries World ex Australia Net Dividends Index, unhedged.
StrategyTo invest in a portfolio of Australian and international equities, including allocations to both active and index managers with the aim of achieving the investment objective. The long-term strategic asset class allocation is shown below, together with the indicative range for the actual allocation for each asset class.
Estimated frequency of a negative annual return6 or greater in 20 years.
Minimum investment timeframe12 years.
Who should invest in this option?This option is designed for members who are prepared to accept a more aggressive and concentrated asset allocation than the Balanced growth option. This option has the potential to provide higher returns, but also increases the risk of a negative return.
Summary risk levelThe risk level of this option is very high.
Retirement bonusMembers invested in this option may be eligible for the Retirement bonus if certain terms and conditions are satisfied. More information.
* The investment objectives are not forecasts or predictions. Vision Super designs the investment strategy of each option with the aim of achieving the option’s investment objective.
Benchmark asset allocation

(indicative ranges in brackets)

Changing your investment options

Most of the time it’s important to keep your investment strategy consistent to get the most out of it. If your circumstances change it’s important you do review your investment options and make sure they’re still right for you.

Before you make any decisions, we recommend that you obtain financial advice. With Vision Super you can receive advice at no additional cost from a Vision Super financial planner on single topics relating to your Vision Super account, to help develop a strategy tailored for you. 

Need advice?

Make an appointment with a Vision Super Financial Planner who will provide information and advice about your super or pension. Bookings can also be made by calling 1300 300 820. 

Frequently asked questions

We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.

This is to make sure we’re keeping members at the centre of our approach to the design and distribution of our financial products.

This legislation requires financial services product issuers to design products that are appropriate for the consumers in the target market and consistent with their objectives, financial situation, and needs.

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers. 

It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.

Cash investment options are generally a combination of money in the bank and money invested for a short time in money market securities, such as bank term deposits and bank bills.

If you are risk averse or working to a short timeframe, then a Cash option that typically provides stable, low risk returns may be suitable for you. This type of investment option will protect the value of your superannuation, but the returns will often be low compared with other investment options.

The risk associated with cash investments is generally minimal, although the returns are also minimal. Cash can be a safe haven in times of economic uncertainty, and occasionally you may wish to preserve capital by allocating some of your super to cash.

We recommend that you obtain financial advice before making any decisions about investing in our Cash option.

To book an appointment with a Vision Super financial planner, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Advice fees may apply, which will be discussed with you before any work is undertaken.

We don’t charge switching fees, so there is no impact on your super account balance from switching between investment options. However, if you have the right investment risk profile and your investments are matched up to your risk profile, you shouldn’t be needing to make switches regularly.

From time to time you should review your risk profile, maybe when you are first starting out in the workforce, are in the middle of your working life, a few years away from retirement and/or going into retirement. Otherwise the investments you have in superannuation should be a ‘set and forget’ strategy where you ride the ups and downs of the investments over a longer period.

You can switch investment options for some, or all, of your account balance, future contributions, or both. You can also nominate which investment option you would like your withdrawals to be made from.

You can switch between investment options by logging into our website, or the Vision Super app, or by sending us a completed Investment choice form. You can also call us, on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Investment switches are processed based on the unit prices of the relevant investment options declared on the next business day after we receive your switching request, unless there is a delay with processing due to abnormal market conditions or system failure.

Frequent switching between investment options and trying to second-guess the market can be risky, particularly for high-risk investment options designed to be held in the long-term (6-12 years). You should switch only after a thorough review of your long-term investment strategy.

We recommend that you obtain financial advice before making any decisions about switching between investment options.

To book an appointment with a Vision Super financial planner, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Advice fees may apply, which will be discussed with you before any work is undertaken. For full details on advice costs, please refer to the Vision Super Fees and Costs guide.

Growth assets are higher risk but offer a higher potential return compared to defensive assets. They aim to grow the capital that’s invested and provide some income. Defensive assets are lower-risk investments which aim to protect the capital invested while providing an income.

The classification of assets into either growth or defensive has the advantage of simplicity, but it also has limitations when used as an indicator of risk. The classification does not capture diversification, which can have a larger impact on reducing the overall portfolio risk when assets are combined.

Another issue is that different people may have different classifications for the same asset type because there are no regulations governing this area and no clear guidance by the regulators on a standardised growth/defensive split. Classifications of growth or defensive assets may also change over time depending on market conditions and pricing.

We believe that there needs to be greater consistency and transparency in how super funds arrive at their growth/defensive mixes. But in the absence of regulations, there are going to be differences in practice and opinion. To avoid any potential misunderstandings, Vision Super does not publish the growth/defensive split of our investment options.

Compound interest is the interest that is earned on money that was previously earned as interest.

For example, if you have an investment of $100 that pays interest of 5% every year, then in the first year you will be paid interest of $5 over the year (5% of $100).

What happens in the next year? That’s where compounding comes in. You will not only earn interest on your initial $100 deposit, you will also earn interest on the $5 interest that you earned in the first year.

That means you will earn $5.25 in the second next year because your account balance is now $105, even though you didn’t make any deposits. This may not seem like much of an increase, but the effects of compounding becomes  more dramatic over long periods of time. After 30 years, your initial $100 investment would be worth $432.19, and that year you would be paid $21.61 in interest.

Each year your interest earnings will accelerate even more due to compound interest. This cycle leads to interest and account balances going up at an increasing rate, which is sometimes known as exponential growth.

Of course, if you’re borrowing money, compounding works against you. You owe interest on the money you have borrowed, and so your loan balance can then increase over time, even if you don’t borrow any more money.