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Best performing pension funds: All Growth category (96–100%)

Important: Past performance is not necessarily a guide to future performance. The returns that super funds achieve will change over time and readers should continue to monitor their fund’s performance.

All information on SuperGuide is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate for you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

In this article you can discover the top 5 performing All Growth pension funds over 1 year and 10 years. We recommend that you also read our explanatory article Introduction to SuperGuide’s top performing super fund lists which can help you understand how to compare the different risk categories that super investment options sit within. 

What is an All Growth investment option?

Investment options with a 96–100% allocation to growth assets are termed All Growth by Chant West, a research company that has been analysing super fund performance for more than 20 years.

All Growth investment options may appeal to people who want to substantially grow their super over the long term but are comfortable with the risk of major fluctuations and a negative return every so often. They are generally most appropriate for people who have at least seven years or more to invest and can use the power of time to ride out any volatility. 


Good to know

Investments such as shares, property, infrastructure and private equity are referred to as growth assets for their ability to produce strong returns over the long term, but they are more likely to experience volatility (and even negative returns) in shorter timeframes.

Conversely, assets like cash and fixed interest are referred to as defensive assets for their ability to defend against volatility, but generally cannot produce high returns over long periods of time.


How does an All Growth investment option behave?

In the short term, investment options in the All Growth risk category will generally be the most volatile of all risk categories. This means its capacity for high returns is generally more than all other risk categories, but it also means its capacity for downturns and more extreme negatives is more likely. 

In the long term, an All Growth investment option will generally have the capacity to grow more over longer periods than investment options in any other risk category. 


Note: We only list the top 5 investment options for All Growth pension funds because there are fewer options in this category, and to ensure that all funds highlighted performed better than the median fund.


Top 5 All Growth investment options (pension funds): 1 year to December 2024

Super fundInvestment optionReturn (per year)
Vision SuperJust Shares20.4%
SmartMondayHigh Growth19.4%
AMP Super FundFuture Directions High Growth18.7%
Colonial First State FirstChoiceCFS High Growth18.6%
UniSuperHigh Growth18.2%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

If your pension fund is not listed as one of the top performers, check where it appears in our pension fund rankings:

The median 1 year return for All Growth investment options to 31 December 2024 was 14.2%.

Median returns track the mid-point of all contenders in any one category and are a good way to add context to what you’re looking at. Once you know how your fund performed, check it against the median return for your risk category to see if it finished in the top or bottom half of the field.

You can see the median pension returns of all risk categories over a broad range of timeframes here.

Below you can find the top 5 performing All Growth investment options over 1 year for previous time periods. Click the arrow to see the top 5 for each period, or continue reading to discover the top 5 performing All Growth investment options over 10 years.

Top 5 All Growth investment options (pension funds): 1 year to June 2024
Super fundInvestment optionReturn
Australian Retirement TrustShares (ART – Super Savings)17%
Vision SuperJust Shares15.60%
REST SuperShares15.10%
AMP Super FundFuture Directions High Growth14.90%
Russell Investments Master TrustHigh Growth14.70%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to December 2023
Super fundInvestment optionReturn
Vision SuperJust Shares19.3%
REST SuperShares17.5%
Australian Retirement TrustShares (ART – Super Savings)17.2%
REI SuperGrowth16.4%
Russell Investments Master TrustHigh Growth15.3%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to June 2023
Super fundInvestment optionReturn
Vision SuperJust Shares20.2%
RestShares19.6%
MercerDiversified Shares16.7%
Australian Retirement TrustShares (ART – Super Savings)16.4%
UniSuperHigh Growth15.7%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to December 2022
Super fundInvestment optionReturn
Legal SuperHigh Growth-5.9%
MLCHorizon 6-6.0%
RestShares-6.2%
TWUSUPERHigh Growth-6.3%
MercerDiversified Shares-7.1%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to June 2022
Super fundInvestment optionReturn
Legal SuperHigh Growth-2.8%
MLCHorizon 6-3.7%
Christian SuperEthical High Growth-3.8%
smartMondayHigh Growth-4.2%
TWUSUPERHigh Growth-4.4%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to December 2021
Super fundInvestment optionReturn
MLC Super FundHorizon 623.9%
SmartMondayHigh Growth22.4%
REST SuperShares22.3%
Vision SuperJust Shares21.9%
Christian SuperEthical High Growth21.6%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to June 2021
Super fundInvestment optionReturn
Vision SuperJust Shares35.1%
SunsuperShares32.4%
MLC Super FundHorizon 632.3%
Colonial First State FirstChoiceHigh Growth31.6%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to December 2020
Super fundInvestment optionReturn
Vision SuperJust Shares11.3%
UniSuperHigh Growth9.0%
BUSSQAll Growth7.0%
SunsuperShares6.6%
Christian SuperEthical High Growth6.4%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 1 year to June 2020
Super fundInvestment optionReturn
BUSSQAll Growth2.0%
UniSuperHigh Growth1.7%
Vision SuperJust Shares1.5%
Mine SuperAggressive-0.6%
VicSuperEquity Growth-1.1%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Playing the long game

It’s important to keep an eye on how your pension is performing for you year to year (and interesting to see how other funds have performed), but for most people, superannuation will be the longest-held investment we ever have, and our lens on super should reflect that. 

Longer-term figures are more significant because they incorporate the ups and downs over that entire period, and allow us to see which investment managers can consistently deliver superior performance, regardless of changing external conditions. 

Top 5 All Growth investment options (pension funds): 10 years to December 2024

Super fundInvestment optionReturn (per year)
Vision SuperJust Shares11.8%
UniSuperHigh Growth11%
SmartMondayHigh Growth10.4%
Mercer SuperMercer Diversified Shares10.2%
MLC Super FundMLC High Growth10.2%

Source: Chant West. The top 10 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Again median figures can provide good context. In the ten-year period to December 2024, All Growth investment options as a category delivered a median return of 9.9%. 

A small difference in performance makes a big difference over time

Although the difference between the top performer and the median may not seem that significant (1.3% per year), the difference builds up significantly over time due to compounding.

For example, for a 67-year-old with $500,000 in super achieving 11.2% per year, their super balance would grow to approximately $838,537 by age 75 (assuming 0.8% in fees and not withdrawing any super).

All other things being equal, achieving 9.9% instead would mean a super balance of approximately $755,262 – approximately 10% less.

But don’t forget sequencing risk

When you are nearing or in retirement it is important to allow for sequencing risk, particularly if you need to draw down a significant part of your super balance.

Learn more in SuperGuide article 5 ways sequencing risk affects your retirement.

Below you can find the top 10 performing All Growth investment options over 10 years for previous time periods. Click the arrow to see the top 10 for each period.

Top 5 All Growth investment options (pension funds): 10 years to June 2024
Super fundInvestment optionReturn (per yr)
Vision SuperJust Shares11.20%
UniSuperHigh Growth10.90%
REST SuperShares10.80%
MLC Super FundMLC High Growth10.20%
Australian Retirement TrustShares (ART – Super Savings)10.10%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to December 2023
Super fundInvestment optionReturn (per yr)
Vision SuperJust Shares10.6%
UniSuperHigh Growth10.3%
REST SuperShares10.1%
MLC Super FundMLC High Growth9.8%
Australian Retirement TrustShares (ART – Super Savings)9.4%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to June 2023
Super fundInvestment optionReturn (% per yr)
Vision SuperJust Shares11.8%
UniSuperHigh Growth11.4%
RestShares11.4%
MLCHigh Growth10.8%
MercerDiversified Shares10.5%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to December 2022
Super fundInvestment optionReturn (% per yr)
RestShares11.7%
Vision SuperJust Shares11.6%
UniSuperHigh Growth11.5%
MLCHorizon 611.2%
BUSSQAll Shares10.8%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to June 2022
Super fundInvestment optionReturn (% per yr)
RestShares12.6%
Vision SuperJust Shares12.1%
UniSuperHigh Growth12.0%
MLCHorizon 612.0%
BUSSQAll Shares11.5%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to December 2021
Super fundInvestment optionReturn (% per yr)
UniSuperHigh Growth14.6%
REST SuperShares14.5%
Vision SuperJust Shares14.5%
BUSSQAll Growth14%
MLC Super FundHorizon 613.6%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to June 2021
Super fundInvestment optionReturn (% per yr)
UniSuperHigh Growth13.0%
Vision SuperJust Shares12.8%
RestShares12.7%
BUSSQAll Growth12.6%
MLCHorizon 612.2%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to December 2020
Super fundInvestment optionReturn (% per yr)
UniSuperHigh Growth11.7%
RestShares11.3%
Vision SuperJust Shares11.2%
MLCHorizon 610.5%
VicSuperEquity Growth10.5%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

Top 5 All Growth investment options (pension funds): 10 years to June 2020
Super fundInvestment optionReturn (% per yr)
UniSuperHigh Growth11.2%
Vision SuperJust Shares10.7%
RESTShares10.7%
VicSuperEquity Growth10.4%
MLCHorizon 610.3%

Source: Chant West. The top 5 is limited to All Growth options with assets of $1 billion or more. Performance is shown net of investment fees and tax, and before administration and adviser commissions.

© Zenith CW Pty Ltd ABN 20 639 121 403 (Chant West), Authorised Representative of Zenith Investment Partners Pty Ltd ABN 27 103 132 672, AFSL 226872 under AFS Representative Number 1280401 2020.

The data provided by Chant West is based on information supplied by third parties and does not contain all the information required to evaluate the nominated service providers, you are responsible for obtaining further information as required. The data provided by Chant West does not constitute financial product advice. However, to the extent that this data is advice it is General Advice (s766B Corporations Act) and Chant West has not taken into account the objectives, financial situation or needs of any specific person who may access or use this data. It is not a specific recommendation to purchase, sell or hold any product(s) and is subject to change at any time without prior notice. Individuals should consider the appropriateness of any advice in light of their own objectives, financial situations or needs and should obtain a copy of and consider any relevant PDS or offer document before making any decision. Data is provided in good faith and is believed to be accurate, however, no representation, warranty or undertaking in relation to the accuracy or completeness of the data is provided. Data provided is subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. Except for any liability which can not be excluded, Chant West does not accept any liability whether direct or indirect, arising from use of this data. Past performance is not an indication of future performance. Full details regarding Chant West’s research methodology, processes, ratings definitions are available at www.chantwest.com.au and Chant West’s Financial Services Guide is available at www.chantwest.com.au/financial-services-guide.

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IMPORTANT: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions. Comments provided by readers that may include information relating to tax, superannuation or other rules cannot be relied upon as advice. SuperGuide does not verify the information provided within comments from readers. Learn more

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