SmartPath has a ‘whole of life’ approach to investing and is designed for members still working and growing their super, automatically adjusting its mix of growth and defensive assets as the investor gets older. Members can take comfort knowing that while they are working and carving out a career, their super is being invested in an investment strategy that is designed and actively managed for their age group, with the aim of providing a sustainable income through retirement.

In SmartPath, the investment objectives, investment strategy and asset allocation of a member’s SmartPath investment option will automatically change as the member gets older. Each SmartPath investment option aims to achieve an appropriate level of risk and return for the relevant age group by automatically adjusting its mix of growth and defensive assets as the investment risk profile of the member’s age group changes.

How does the Asset Allocation for each SmartPath option change over time?

When a member invested in this option is younger, they have a higher allocation of growth assets. As they get older, the asset allocation of their SmartPath option changes such that the amount of assets invested in riskier growth assets reduces, to reduce volatility before the member retires. This gradual adjustment to the asset allocation is known as the ‘glidepath’.

For example, if a member was born in 1960 and invested their super in SmartPath, their super would be placed in the investment option specific to the age group as referred to in the name of the option ‘1959-1963’.

However over the next five years the asset allocation of the various asset classes in the option will move on an annual basis so that around 1 January 2020 the details of the asset allocations of the various asset classes for that member’s option would be similar to those currently set for the ‘1954-1958’ option.

Each investment option within SmartPath has 5 year bands with a Strategic Asset Allocation that automatically changes annually each 1 January according to a predetermined glidepath (see below graph).

SmartPath is designed to meet members’ needs as they age. Members are placed in a option based on their date of birth. The options are grouped into five-year age bands. Younger members commencing their retirement savings journey will start with an allocation of 85% growth assets. As they get older, they will automatically and gradually ‘glide’ from a growth-oriented investment strategy to a defensive-oriented strategy. Investment strategies for each age band are carefully considered in regards to likely risk tolerance, liquidity needs, opportunities for tax efficiency and income requirements.

Exposure to growth assets

The graph below illustrates the reduction in growth assets in a member’s Smartpath investment as the member gets older.

SmartPath begins with an asset allocation of 85% growth assets and reduces over time to 50% growth assets (using the current asset allocations as at the issue date of the current product disclosure statement).

Your life stage

Refer to your year of birth in the table below to see the current allocation of growth assets (as at 1 January 2018). 

Year of birth Allocation of growth assets
2014 - 2018 85%
2009 - 2013 85%
2004 - 2008 85%
1999 - 2003 85%
1994 - 1998 85%
1989 - 1993 85%
1984 - 1988 85%
1979 - 1983 85%
1974 - 1978 85%
1969 - 1973 85%
1964 - 1968 77% 
1959 - 1963 67%
1954 - 1958 57%
1949 - 1953 50%
Born prior to 1949 50%


Net investment returns to 30 June 2018 (% p.a.)*

Please note: The investment options in the table above commenced from 1 February 2015 and funds were first invested from the inception date and therefore past performance for these options is not available prior to that.

* The returns shown are for the period from inception to 30 June 2018 and for the 2017-18 financial year. Please note that for the SmartPath options not listed in the table above, no funds were invested at 30 June 2018 so there are no returns available for those options. Past performance is not an indicator of future performance. You should also expect the returns on each of your investment options to vary over time due to fluctuations in the value of investments within each investment option. These returns are net of investment fees and the indirect cost ratio only and do not reflect the administration fees.