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The real estate industry’s superannuation fund has unveiled its returns stats for the most recent financial year – and announced a new product.
REI Super reported that its Balanced investment option achieved a net return of 9.34 per cent over the 2023–24 financial year.
CEO Jarrod Coysh described the news as “a great outcome for our members”, noting that 86 per cent of members “have some or all their retirement savings invested in the Balanced option”.
Meanwhile, the fund’s Growth option achieved a net return of 12.80 per cent over the same period.
“This return demonstrates that we are big enough to perform and small enough to care about maximising our members’ retirement outcomes,” said Coysh.
“As well as good returns and competitive costs, we have demonstrated performance in delivering personalised service and in-house advice which is available to all members.”
According to the CEO, the fund’s strong returns this year were driven by “higher exposure to domestic and international shares, which both performed strongly, combined with a lower exposure to unlisted property”.
He also noted that this year’s net returns were consistent with last year’s results, with the 2022–23 financial year seeing a net investment return of 9.45 per cent for the Balanced option, and 13.77 per cent for the Growth option.
As of 1 July 2024, a new investment option, Growth Plus, has been added to REI Super’s repertoire for those seeking higher returns over a longer period of time.
Speaking on the launch of the new product, Coysh explained: “This new investment option has the potential for the highest returns out of REI Super’s investment options over its investment time horizon of 10 years.”
“It invests in almost entirely growth assets with minimal defensive assets,” he stated.
Touting itself as “the dedicated super fund for the real estate industry”, REI Super is one of a handful of industry funds that have member-elected directors on its trustee board.
In September 2023, the fund welcomed real estate veterans Tim Lawless, Tim McKibbin and Richard Simpson as board members.
