Investment options

  • Investment choice
    Choose to invest in one of four investment options or a combination, depending on your needs
  • Investment performance
    Keep up-to-date with the performance of your super or Retirement Section account.
  • Risk and return
    Everyone has a different attitude to investment risk. Find out what to consider when choosing investment options
  • How investments are managed
    The asset classes we invest in and the investment managers we use
  • Changing investment options
    Switch investment options weekly at no cost
  • Unit prices
    Understand how unit prices are calculated and effect your account balance
  • Financial advice
    Get the advice you need before choosing or switching investment options

Investment choice

ANZ Staff Super offers members the choice of four investment options. You can invest your super or Retirement Section account in one or any combination of the four available options.

Each investment option has different investment objectives, asset allocation and risk and return expectations.

Your choices are:

Aggressive Growth

The majority of assets are invested in shares with small allocations to property and alternative investments.

Balanced Growth

(A MySuper product) Typically around 59% is invested in shares and property and around 24% is invested in alternative assets.


Typically around 60% is invested in diversified fixed interest securities and cash.


100% is invested in short-term money market securities and fixed interest securities with short durations.

Log in to your account, click ‘Investments’ on the dashboard and see the description; objective; standard risk measure; minimum suggested timeframe; asset allocation; and recent investment performance for each investment option.

Super members who do not make an investment choice will be invested in the Balanced Growth option (the default option).

Retirement section members who do not make an investment choice will be invested in the option(s) that most recently applied to your account balance in the Employee Section, Employee Section C, Personal or Partner Section (whichever is applicable).

For more on information on each of ANZ Staff Super’s investment options and what to consider when making an investment choice, read the PDS relevant to your section.

Investment performance

For details about ANZ Staff Super's most recent monthly performance and how we have performed relative to our peers, please visit the Investment returns page.

Risk and return

Generally, all investments have the potential to increase or decrease in value, or stay the same. An increase in value generates a positive return while a decrease in value generates a negative return. Generally, the greater an investment’s potential return, the greater the risk associated with that investment.

Each of ANZ Staff Super’s investment options has a different mix of risk and likely return as illustrated below.

You should be comfortable with the level of risk associated with the investment option(s) you choose.

  • What are the risks associated with investing?
    All investments, including super and Retirement section accounts, carry a degree of risk. The most common types of risks are listed below.
    • Inflation
      Inflation may exceed the rate of return on your investment.
    • Individual investment risk
      Individual assets can and do fall in value for many reasons, such as changes in its internal operations or management or in its business environment.
    • Market risk
      Changes in economic, technological, political or legal conditions and in market sentiment can impact on investment markets and affect investment returns. Market risk is managed by appropriately diversifying the Scheme's investments both within and between asset classes and markets as part of the strategic asset allocation.
    • Currency risk
      Some investments are held overseas. If the currencies in which these investments are held change in value relative to the Australian dollar, the value of these investments can change. While the Trustee considers option level exposures to foreign currency risks, required hedging is implemented at the asset sector level. Most foreign currency exposures are fully hedged other than international developed market and emerging market equities. The foreign currency exposures that arise from holding emerging market equities are not hedged where as developed market international equities are partially hedged. This provides some protection against decreases in the value of the foreign currencies in which the shares are held, but also allows some of the benefit of increases in the value of foreign currencies to flow through to investment returns.
    • Derivatives risk
      Risks associated with derivatives include the value of the derivative failing to move in line with the underlying asset, illiquidity, inability to meet payment obligations as they arise and counterparty risk.
      The Trustee does not directly invest in derivatives such as futures and options, but does use foreign exchange forward contracts for hedging. Investment managers may use derivatives in managing portfolios for the Trustee and in managing pooled investment vehicles in which the Trustee invests. Derivatives are used to reduce risk, reduce transaction costs and as an efficient way of gaining exposure to certain asset classes. Limits on the extent of derivative use are specified in the investment management agreements between the Trustee and investment managers.
    • Scheme risk
      Risks particular to the Scheme include closure of the Scheme, Trustee changes and investment manager selection.
    • Changes to super law
      Superannuation law changes often. These changes may affect your investment.
    • Changes to tax law
      Taxation law changes often. These changes may affect your investment.
    • Liquidity and cash flow risk
      Liquidity risk is the risk that the Scheme will encounter difficulties in meeting benefits and other financial obligations because it is unable to realise investments in a timely manner.
      Liquidity risk is managed by monitoring the Scheme's holdings in illiquid assets and stress testing the portfolio for market and liquidity shocks. Liquidity is managed at the option level, with limits placed on the proportion of each option invested in assets deemed most illiquid and on investments in vehicles which have notice periods for redemptions. The majority of other assets are held in readily realisable underlying assets. 
      ANZ Staff Super also has limited ability to borrow in the short term to ensure settlement of financial obligations.
    • Credit risk
      Credit risk represents the loss that would be recognised if counterparties failed to perform as contracted.
      Concentrations of credit risk are minimised by investing in various unlisted unit trusts which in turn hold diversified direct market investments. These unit trusts undertake transactions with a large number of counterparties on recognised and reputable exchanges.
    • Interest rate risk
      Changes in interest rates may impact on investment returns.

For more information on the risk and return of each of ANZ Staff Super’s investment options, read the PDS relevant to your section.

    How investments are managed

ANZ Staff Super’s investments are managed by professional investment managers. The Trustee is responsible for manager selection and monitoring their performance.

The following table shows the asset classes that ANZ Staff Super invests in and the investment managers appointed to each asset class.


Asset class

Investment manager

Australian Shares
International Shares
Australian Direct Property
Global Listed Real Estate
Australian Fixed Income
International Fixed Income
Private Equity
Global Infrastructure
Global Listed Infrastructure
Global Credit

Note that this information is correct as at December 2023.

Changing investment options

ANZ Staff Super members can select one, or a combination of the following four investment options:

  • Aggressive Growth
  • Balanced Growth
  • Cautious
  • Cash

You can change your investment selection weekly at no cost to you. This is known as ‘switching’.

You can also choose to place your current account balance in more than one investment option in any proportion you wish.

If you are a super member you can choose to direct future contributions and other cashflow (such as rollovers) to more than one investment option in any proportion you wish.

If you are a Retirement Section member you can choose to have future cashflows (such as income payments) drawn from one or more investment options if you’ve chosen a combination of investment options for your account balance.

While you can change your investment selections weekly, you should think carefully about making any changes based on your reaction to short-term fluctuations in the value of your investment. Super is generally considered to be a long-term investment in which you should take a considered long-term view of investment markets.

Log in to your account, click ‘Investments’ on the dashboard. Press ‘edit’ if you wish to change any of your current investment or future contributions investment options.

Important note: if you submit a change to your investments before 5pm (AEST) Thursday, it will be processed on the following Wednesday using the weekly unit prices for that day. Changes submitted after this time will be proccessed on the Wednesday after next. During times of extreme market volatility, processing of members', request may be delayed. Any switch will take effect from the date it is processed.

As your circumstances change, you may need to review your investment options. But before you make a choice, you should seek financial advice from a licensed financial planner. You can contact an ANZ Staff Super financial adviser on 1800 000 086 who can give limited financial advice over the phone.

Unit prices

Your ANZ Staff Super account is recorded as a unit holding in one or more of the underlying investment options.

Each investment option has a unit price. The unit price of a particular investment option is the value of its net assets divided by the number of units on issue. The “value of net assets” is the current market value of assets in an investment option, after deducting current liabilities such as accrued investment tax (where applicable) and investment related expenses.

Unit prices are set weekly or, in certain circumstances, more frequently as determined by the Trustee.

As asset values fluctuate, unit prices will go up and down. The investment return for each investment option is calculated as the percentage change in unit prices for the year, to provide a measure of investment performance.

To check current or historical unit prices of ANZ Staff Super investments go to the account login page. Click either the ‘Unit Prices Super’ or ‘Unit Prices Pension’ button and submit a date to show unit prices for that day. You can also check unit prices when logged into your account by clicking ‘Investments’ on the dashboard, scrolling down to ‘Unit Prices’, and submitting a date to show the relevant unit price.

You can also click on your investment options to see current number of units and the current price.

Financial advice

Get the advice you need before you make an investment choice or switch investment options. You can contact an ANZ Staff Super financial adviser on 1800 000 086 who can give you limited advice on the investment options available and your investment strategy.   

If your needs are simple, an ANZ Staff Super financial adviser can help.

The Trustee of ANZ Staff Super has entered into an agreement with Mercer Financial Advice (Australia) Pty Ltd under which Mercer's financial advisers have been engaged to provide members with general or limited personal financial advice about options available within ANZ Staff Super over the phone for no extra charge.

These financial planning services are provided by Mercer Financial Advice (Australia) Pty Ltd ABN 76 153 168 293, AFSL#411766. Any advice provided by Mercer's advisers is not provided or endorsed by the Trustee and is not provided under the Trustee’s AFSL.

Call us on 1800 000 086
1800 000 086
Calling from Overseas: +61 3 8687 1829

8.00am - 6.00pm
Monday - Friday (AEST/AEDT)

Write to us

ANZ Staff Super
GPO BOX 4303 Melbourne VIC 3001