A high growth super fund option invests nearly entirely in growth assets — typically 90–100% shares and property. It targets the highest long-term returns of any standard option, but with the greatest short-term volatility.
What Is a High Growth Super Option?
High growth options eliminate most or all defensive assets (bonds, cash):
| Asset Class | Typical Allocation |
|---|---|
| International shares | 40–55% |
| Australian shares | 30–40% |
| Infrastructure and property | 5–15% |
| Fixed interest / Cash | 0–10% |
Some funds label this option “Aggressive” or “All Growth” rather than “High Growth”. Check your fund’s product disclosure statement (PDS) for the actual asset allocation.
Historical Returns
Based on APRA data and major fund disclosures:
| Timeframe | Approximate Annual Return |
|---|---|
| 5-year average | 8–11% per year |
| 10-year average | 9–12% per year |
The high share allocation means returns track global and Australian share markets closely. In strong bull markets, high growth options can deliver returns above 20% in a single year — but during crashes (GFC: ~−25%; COVID-19 trough: ~−15%), they also fall sharply.
Past performance is not a reliable indicator of future performance.
Standard Risk Measure
| Option | Typical Negative Years in 20 |
|---|---|
| Growth | 3–4 |
| High Growth | 4–6 |
A high growth option may generate a negative return 4–6 years out of every 20. Over a long accumulation phase, these downturns are generally recovered — but members who panic-sell into cash during downturns can lock in permanent losses.
Who Typically Chooses High Growth?
A high growth option is generally considered for members who:
- Are young (under 35–40) with 25+ years until retirement
- Have high risk tolerance and can remain invested through market falls of 25–35%
- Understand that short-term losses are expected and recoverable over long horizons
- Want to maximise the long-term compound growth of their super balance
It is not suited to members approaching retirement, those who have reacted to past market falls by switching to cash, or those who rely on their super balance for short-term income (e.g., TTR pensions).
High Growth vs Growth — Is the Difference Worth It?
The return advantage of high growth over growth is smaller than many members expect:
| Feature | Growth | High Growth |
|---|---|---|
| Growth assets | ~75–85% | ~90–100% |
| 10-year return (approx.) | 8–10% | 9–12% |
| Additional return | — | ~0–2% per year |
| Additional volatility | — | Meaningfully higher |
For members 25+ years from retirement, the compounding impact of even 1–2% additional annual return is material. For members within 10 years of retirement, the extra downside risk outweighs the incremental return benefit.
Major Fund High Growth Options
Most large industry funds offer a high growth or aggressive option. Common examples include:
- AustralianSuper — High Growth: ~97% growth assets
- Hostplus — Shares Plus: ~100% growth
- Australian Retirement Trust — High Growth: ~95% growth assets
- Aware Super — High Growth: ~97% growth assets
Always compare on a like-for-like basis using 10-year net returns (after fees and tax) from the same asset allocation category.
For further reading: Growth Super Fund Option, Best Performing Super Funds Australia, How to Change Your Super Investment Option. For advice tailored to your situation, speak with a licensed financial adviser through MoneySmart.