Benefits for customers

Our purpose is to grow the superannuation savings of our customers, so that you can achieve sufficient and sustainable income in your retirement.

We exclusively serve current and former members of the Australian Defence Force, government employees, and their families. With such a niche membership, we’re committed to getting to know our customers and what they want from their super. Because we’re here to provide services to around 700,000 customers (rather than 20 million Australians), we’re not distracted by marketing to attract new customers.


So, what does this mean for our customers?

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Robust investment decisions are made with integrity

Our team of senior investment professionals have worked together for more than 10 years, weathering bull and bear markets collaboratively and capitalising on our genuine comparative advantages. We achieve this through well-defined accountability frameworks and disciplined risk budgets. We apply a proven and comprehensive investment framework to our decision-making, and maintain transparency across the portfolio to stay agile as conditions change. This enables us to take advantage of emerging investment opportunities early, before others recognise them.

Read more about our investment philosophy
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You get value for money

We invest our customers’ savings in high-quality assets to maximise the probability that each of our customers will reach a comfortable retirement—and we do this sustainably. We look for opportunities that are expected to be rewarded consistently for the risks and costs involved, including resilience against downside and inflation risks. We only pay for what customers need to enhance your retirement outcomes. For example, we only pay fees for active management where performance is expected to be higher than passive management, or where the risks of capital loss are materially reduced. We hunt for investment opportunities where others are not (yet). As an early adopter, we actively search for emerging investment areas to deliver attractive returns net of fees.

Read more about our Investment performance (net of fees)
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We are a globally-recognised leader in innovation and governance 

Our culture of continuous innovation and improvement means we can compete efficiently with other (often much larger) investors to secure high-quality, limited investment opportunities all over the world. Our Chief Investment Officer has been the Chair of the World Economic Forum long-term investor group for more than six years. This culture has been built over many years and is supported by our global best practice governance around investment risk controls, disciplined entry and exit road maps, scenario analysis and proprietary investment tools. 

See our history of innovation and awards.
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Our investment horizon is your lifetime 

Our customers need a portfolio that will be resilient to unexpected shocks, and one that’s able to sustainably grow your savings—and future income—over your lifetime. When building investment portfolios, we pro-actively identify the risks associated with an investment’s whole ecosystem. This means we don’t just look at current financial risks but also those risks that may arise over the future lifetime of the companies and assets our customers’ savings finance. We consider the impact of future earnings from technology, environmental, government and labour practices and social structural change. 

Read more about our integrated risk management and stewardship approach

You benefit from our unique advantages (compared to other funds)

Our sovereign status makes us an attractive investment partner to high calibre external specialist providers. We stand for guardianship, security and quality. 

External Relationships

We seek to build a seamless investment function using both internal intellectual property—a stable, agile, collegiate, and experienced internal team, complemented by specialised outsourced operation, execution and advice.

We employ external advisers for portfolio construction, investment manager selection and specialist advice, e.g. independent analysis to reduce potential behavioural bias in making investment decisions from academics, investment managers, consultants, and international peers. We seek unbundled specialist advice with world-class partners to supplement internal competencies and resourcing. We look for complementary, flexible and value-for money—fit for our investment purpose.

This approach to external relationships allow us to quickly form agile investment committees comprising internal and external expertise specific for any particular investment opportunity, rather than pay for commoditised skills. We can also direct costs to areas that make material contributions to customer outcomes. It also allows us to be flexible with the time period for employment as well as allow knowledge transfer, intellectual property build, human capital deepening and offers an attractive employee value proposition.

All external relationships have transparent and accountable measures of success which are aligned with internal objectives, input expectations, indicators of success or early failure, accountability and well-defined at the project outset.

What does this mean for our customers?

Scale is important to enhance the efficiency of super to achieve long term member outcomes:

  • We seek to leverage scale to maximise the benefits for customers in the form of total net returns;
  • Scale allows us to negotiate on fees and tailor terms and conditions on mandates to pay for what our customers need, rather than be forced into commoditised pooled vehicles;
  • Scale allows us to access a broad universe of investment opportunities, including both listed and unlisted assets, across most investment risk factors – if we don’t have a particular risk exposure, it is a deliberate investment decision, not because we are constrained by scale;
  • However, we are generally still agile enough to access smaller-scale, active management across different market segments.

Our investment horizon is your lifetime 

We manage a unique mix of defined benefits and contribution schemes, which involve a relatively stable pattern of cash inflows and outflows. This allows us more flexibility to invest in longer horizon unlisted opportunities as well as withstand short term fluctuations in listed assets.
Read more about Investment choice and CSC options design.


Different investment assets carry different risk, and so customers are able to adjust the level of risk in your super by choosing between the different investment options. Generally speaking, a higher risk option is expected to accumulate more wealth over time, however there is a greater risk of loss in the short term. When choosing an investment option, our customers should consider the length of time the money will be invested before you need to claim your benefit, the level of investment performance that you are expecting and the level of risk and fluctuation that you can tolerate.

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