ASFA sees double-digit returns in 2024 for superannuation funds

They also cautioned against increased regulatory burdens.

The Association of Superannuation Funds of Australia (ASFA) said it aims to deliver strong returns, including double-digit gains in 2024. 

The association also reaffirmed the benefits of private market investments in superannuation. ASFA CEO Mary Delahunty emphasised the importance of these investments in diversifying portfolios, improving long-term reliability, and supporting critical sectors such as housing, infrastructure, life sciences, and private credit.  

ASFA committed to working with its members to respond comprehensively to the Australian Securities and Investments Commission’s (ASIC) inquiries whilst cautioning against increased regulatory burdens that could deter super funds from diversifying beyond listed markets. 

Delahunty noted that ASIC’s concerns overlap with areas that the Australian Prudential Regulation Authority (APRA) has already scrutinised, such as liquidity, governance, valuations, and system resilience. 

She urged regulatory coordination to prevent duplicative efforts that could divert super funds’ focus from serving members and growing retirement savings.  

ASFA reiterated that super funds have consistently delivered strong returns, with 2024 returns exceeding 10.5%, directly benefiting Australians’ retirement savings.