Major industry fund formed from the merger of First State Super and VicSuper.
Aware Super is an industry superannuation fund regulated by APRA. Established in 2020, the fund is headquartered in NSW and operates under RSE Licence L0000062. The trustee responsible for managing the fund is Aware Super Pty Ltd.
| Detail | Value |
|---|---|
| ABN | 53 226 460 365 |
| RSE Licence | L0000062 |
| Trustee | Aware Super Pty Ltd |
| Legal Name | Aware Super Pty Ltd |
| Established | 2020 |
| Headquarters | Level 28, 1 Margaret Street, Sydney NSW 2000 |
| Fund Type | Industry |
| USI | FSF0247AU |
| Member Services Phone | 1300 650 873 |
| Website | https://aware.com.au |
Aware Super manages $175 billion in assets under management, serving approximately 1.2 million members across approximately 150,000 employers. This makes it a large fund in the Australian superannuation landscape.
As one of Australia's largest super funds, Aware Super benefits from significant economies of scale. Larger funds can typically negotiate lower investment management fees and access institutional-grade investments including direct infrastructure, private equity, and unlisted property that smaller funds cannot. This scale advantage often translates to lower costs for members and broader diversification across asset classes.
Aware Super's MySuper option charges a total fee of $442 per year on a $50,000 balance (0.61% of a $50,000 balance). On a $100,000 balance, annual fees come to $832. The fee structure includes a fixed administration component plus percentage-based investment and indirect cost charges.
| Fee Component | Amount |
|---|---|
| Administration Fee (Flat) | $52 p.a. |
| Administration Fee (%) | 0.18% |
| Investment Fee (MySuper) | 0.52% |
| Indirect Cost Ratio | 0.08% |
| Buy/Sell Spread | 0.11% |
| Performance Fee | Yes |
The table below shows how Aware Super's total annual fees scale with your account balance. Funds with a higher flat fee component tend to be proportionally more expensive at lower balances.
| Balance | $10,000 | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
|---|---|---|---|---|---|---|
| Annual Fee ($) | $130 | $247 | $442 | $832 | $2,002 | $3,952 |
| Fee as % of Balance | 1.30% | 0.99% | 0.88% | 0.83% | 0.80% | 0.79% |
The Growth option has delivered a 10-year annualised return of 8.1%, which is broadly in line with the industry median for MySuper products. This suggests the fund has been a reliable performer without standing out significantly in either direction.
| Period | Return (p.a.) |
|---|---|
| 1 Year | +11.5% |
| 3 Years | +8.0% |
| 5 Years | +8.1% |
| 7 Years | +8.2% |
| 10 Years | +8.1% |
The following table shows the annual returns for Aware Super's Growth option for each financial year. This allows you to see how the fund performed during both strong market years and downturns, including the COVID-19 sell-off in FY2020 and the inflation-driven correction in FY2022.
| Year | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Growth | +10.2% | +3.8% | +12.5% | +10.1% | +8.2% | -0.3% | +19.8% | -3.2% | +10.1% | +8.5% |
Aware Super offers 11 investment options spanning pre-mixed diversified portfolios and single-sector choices. Each option carries a different risk profile and fee structure. The asset allocation doughnut charts below show the mix of growth and defensive assets within each option.
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 6 — High | 0.68% | +14.0% | +8.8% | +9.8% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 5 — Medium to High | 0.61% | +11.5% | +8.1% | +8.1% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 4 — Medium | 0.55% | +8.5% | +5.8% | +6.5% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 3 — Low to Medium | 0.48% | +5.5% | +3.2% | +4.0% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 5 — Medium to High | 0.65% | +11.0% | +7.8% | +7.9% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Sector | 6 — High | 0.50% | +12.5% | +8.5% | +9.0% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Sector | 6 — High | 0.52% | +17.0% | +10.2% | +11.5% |
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Sector | 1 — Very Low | 0.15% | +4.1% | +1.7% | +1.4% |
Aware Super provides default insurance cover through AIA Australia. Most members are automatically enrolled in death and TPD cover when they join, while income protection is typically opt-in. Insurance premiums are deducted directly from your super balance, which means you do not pay out of pocket but your retirement savings are reduced over time.
| Cover Type | Details |
|---|---|
| Insurer | AIA Australia |
| Death Cover | Yes — unitised, opt-out |
| TPD Cover | Yes — unitised, opt-out |
| Income Protection | Yes — opt-in |
| Default Death Cover (age 30) | $175,000 |
| Default TPD Cover (age 30) | $175,000 |
| Maximum Cover Age | 67 |
The following table shows estimated annual premiums for Aware Super's default death and TPD cover at various ages. Premiums increase significantly with age as the risk of claims rises. These are indicative figures for a standard occupation category.
| Age | Age 25 | Age 30 | Age 35 | Age 40 | Age 45 | Age 50 | Age 55 | Age 60 |
|---|---|---|---|---|---|---|---|---|
| Annual Premium | $130 | $220 | $380 | $580 | $900 | $1,380 | $2,050 | $2,920 |
Occupation categories: Professional/White Collar, Blue Collar, Heavy Blue Collar
IP waiting periods: 30 days, 60 days, 90 days
IP benefit periods: 2 years, 5 years, To age 65
APRA (the Australian Prudential Regulation Authority) publishes an annual MySuper Product Heatmap that assesses each fund across fees, investment returns, and sustainability. The heatmap uses a traffic-light system to flag products that may be underperforming relative to peers. Here is where Aware Super's MySuper option sits on the latest heatmap:
A "Below median" fee rating means the fund's fees are lower than the typical MySuper product — which is positive for members. An "Above median" return rating indicates the fund has delivered stronger returns than the median fund. A "Performing" sustainability rating means APRA has not identified any concerns about the product's long-term viability.
Aware Super is led by CEO Deanne Stewart. The board comprises 11 directors, with equal representation of 4 member-elected and 4 employer-appointed directors, plus 3 independent directors. As an APRA-regulated fund, Aware Super must meet strict governance standards including director fitness and propriety requirements, risk management frameworks, and regular independent audits.
| Role | Details |
|---|---|
| CEO | Deanne Stewart |
| Chief Investment Officer | Damian Graham |
| Member-Elected Directors | 4 |
| Employer-Appointed Directors | 4 |
| Independent Directors | 3 |
Major mergers: First State Super + VicSuper (2020)
Aware Super maintains a formal ESG policy and has committed to a net-zero emissions target by 2050. As a signatory to the United Nations Principles for Responsible Investment (UN PRI), the fund has committed to incorporating ESG factors into its investment decision-making.
| ESG Criteria | Status |
|---|---|
| ESG Policy | Yes |
| Net Zero Target | 2050 |
| UN PRI Signatory | Yes |
| ACSI Member | Yes |
| Fossil Fuel Exclusion | Partial |
| Tobacco Exclusion | Full |
| Weapons Exclusion | Controversial weapons |
The Aware Super app has solid ratings of 4.6 on iOS and 4.3 on Android, providing members with a functional mobile experience for checking balances, managing investments, and accessing statements.
| Service | Details |
|---|---|
| iOS App Rating | 4.6/5.0 |
| Android App Rating | 4.3/5.0 |
| Financial Advice | Limited personal advice included; comprehensive fee-for-service |
| Call Centre Hours | 8am-7pm AEST Mon-Fri |
| Languages Supported | English |
| Branch Network | 4 locations |
During the Global Financial Crisis in 2008, Aware Super lost 14.5%, roughly in line with the industry average. The GFC remains the most severe market downturn in recent memory and tested every super fund's risk management framework.
In the COVID-19 year (FY2020), Aware Super limited losses to just -0.3%, recovering strongly through the second half of the year.
How a fund performs during market downturns can be as revealing as its long-term returns. Funds that limit losses during crashes tend to have more conservative asset allocations or better risk management, though this can sometimes come at the cost of lower returns during boom periods.
At 4.3 complaints per 10,000 members, Aware Super has a higher-than-average complaint rate. While this does not necessarily indicate poor service, prospective members may want to review the types of complaints lodged.
AFCA is the independent complaints body for financial services in Australia. Members can escalate complaints to AFCA if they are unable to resolve a dispute directly with their super fund. The complaints-per-10,000-members ratio is the most meaningful comparison metric as it adjusts for fund size.
See how Aware Super stacks up against every other fund in our database with a detailed side-by-side comparison.