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IOOF MySuper investment performance update

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IOOF MySuper Balanced Investor Trust delivered a strong, double-digit 10.66% return in FY24

A message from Stanley Yeo, Deputy Chief Investment Officer & Head of Equities at IOOF

A strong, double-digit 10.66% return for the 2024 financial year is great news for members in our IOOF MySuper Balanced Investor Trust (Trust) – our MySuper default investment option. 

This strong return to 30 June 2024 also places the Trust among the top 6 MySuper options for the financial year.ⁱ

The Trust also ranked in the top 10 performers for the 3-year period to 30 June 2024, delivering a competitive 5.27% per annum.ⁱ

The 5-year return for the Trust also remains healthy with 6.25% per annum to 30 June 2024.

What helped drive the Trust’s strong performance?

The Trust’s exposure to international stocks, particularly US technology stocks, contributed to the Trust’s strong financial year return. Global stock prices made especially solid gains given the continued optimism on the prospects for ‘Artificial Intelligence’ (AI) and renewed hopes for lower interest rates later this calendar year.

In particular, the largest AI chipmaker – Nvidia – and a company in which the Trust is invested – led the charge with a 192% stock price gain given strong revenue and profit growth. In fact, Nvidia’s stock has experienced a remarkable 3001% price rise over the last five years*.

The Trust’s alternative private debt strategies – loans made by investors to commercial borrowers - also helped to deliver the solid performance for members who invested in the Trust. The return patterns from these strategies differ from those provided by shares and so are valuable sources of diversification within the Trust, as well as returns.

What does the year ahead hold?

Global shares have performed so well that valuations of some of the big technology stocks in particular are now starting to look ‘stretched’. Amid this heavily tech-powered rally, members should not lose sight of finding opportunities elsewhere.

As such, we enter the new financial year with a cautious but constructive outlook. Consistent with this cautious view, we will continue to rebalance the Trust into markets that have underperformed while taking gains in markets that have outperformed.

Investment markets fluctuate over time, that’s why we’re focused on delivering consistent positive returns for members over longer periods than just one year.

Our robust investment strategy – centred on building a well-diversified portfolio that includes investments across many asset classes – underpins our approach to deliver future long-term performance.

What is MySuper?

View the performance history of your IOOF products

Latest investment returns to 30 June 2024

   Returns (%)  Annualised Returns (% p.a.)
  1 month 3 months 1 year 3 years 5 years
IOOF Balanced Investor Trust^ 1.07 0.23 10.66 5.27 6.25


All returns are net of investment fees and estimated taxes and do not include administration fees and costs.

* Both Nvidia stock figures as at 30 June 2024.

^ From 19 August 2024, the IOOF Balanced Investor Trust is now referred to as the IOOF Balanced Growth investment option.

i SuperRatings Fund Crediting Rate Survey, June 2024. Based on SR50 MySuper Index Survey. Returns are calculated net of investment fees, tax and implicit asset-based administration fees. Explicit fees such as fixed dollar administration fees, exit fees, contribution fees and switching fees are excluded. Past performance is not an indicator of future performance.

Disclaimer: Issued by IOOF Investment Management Limited (IIML) ABN 53 006 695 021, AFSL 230524 as Trustee of the IOOF Portfolio Service Superannuation Fund ABN 70 815 369 818. IIML is part of the Insignia Financial group of companies comprising Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (Insignia Financial Group).

Past performance is not a reliable indicator of future performance.

The value of an investment may rise or fall with the changes in the market. The performance returns in this communication are reported after deducting investment fees and estimated taxes but are before deducting administration fees and costs. Performance returns are annualised for periods greater than one year. For details of relevant fees and costs, refer to the Product Disclosure Statement (PDS) and Investment Menu.

Neither IIML, the investments managers, nor any of their related bodies corporate, guarantee the performance or any rate of return of the investments. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. This performance Summary may be considered to be general financial product advice only, and is not intended to represent investment or professional advice and does not take in to account your individual financial circumstances. You should consider the appropriateness of this information, having regard to your individual financial circumstances. A Product Disclosure Statement (PDS) should also be obtained and you should consider the PDS in deciding whether to acquire, or to continue to hold, any investment. A Target Market Determination (TMD) is also available. You can obtain the latest copy of the PDS (or other disclosure documents) and TMD by calling us on 1800 913 118 or by searching for the applicable product on the website at www.ioof.com.au