AMP, CFS, MLC post double-digit returns

AMP Super, Colonial First State (CFS) and MLC have delivered strong returns for members with growth-focused options posting double digit gains despite heightened market volatility and geopolitical uncertainty.

AMP Super said MySuper members invested in its default Lifestage options recorded returns above 11% for the year to 30 June. Members in the MySuper 1970s and 1990s Lifestage options returned 11.3%, while the MySuper 1980s option delivered 11.2%. Its Future Directions High Growth option returned 12.1%.

The result marks the third consecutive year AMP has delivered returns above 11% for the majority of MySuper members.

AMP chief investment officer Anna Shelley said disciplined portfolio positioning and exposure to emerging markets underpinned performance.

"Markets rewarded patience and discipline this year, with positioning for resilient global earnings and the structural momentum behind AI driving strong returns for our members," said Shelley.

"The March sell-off was a reminder that geopolitical shocks can move markets quickly, but as super fund managers it's important we stay focused on the long-term drivers of returns and the strength of diversified portfolios."

Meanwhile, CFS recorded a fourth straight year of double-digit returns for members in its MySuper balanced and growth equivalent options. The FirstChoice Employer Super growth fund (MySuper Lifestage 1975-79) returned 12.74% while the balanced fund (MySuper Lifestage 1965-69) delivered a 10.81%.

CFS chief executive officer Kelly Power said the results reflected a disciplined investment process despite elevated market uncertainty.

"We know our members are looking for confidence and consistency, particularly in an environment of heightened global volatility. Our results this year again reflect a strong focus on delivering outcomes for our members, supported by a disciplined approach to investing," Power said.

CFS chief investment officer Johnathan Armitage noted emerging markets, global equities and technology related to investments, including artificial intelligence were among the key drivers of return.

At MLC, the High Growth option returned 10.2% while the MySuper Growth portfolio delivered 9.9% after navigating what chief investment officer Dan Farmer described as one of the most volatile years in recent history.

"Superannuation is the longest-term, and largest, investment most Australians will have," Farmer said.

"This last financial year, more than just about any other year I can think of, shows the importance of staying the course."

Farmer continued to note equities, alternatives and private credit were the strongest contributors to returns, adding that MLC expected market volatility to persist but believed portfolios were well positioned for the year ahead.