Changes to Rest’s Investment Options Explained

We’ve simplified our range of investment options to make it easier for our members to understand and compare options when making an investment choice. If you’re a member who will be directly affected by the investment option changes, you’ll be receiving a notification shortly.

We recently reviewed and decided to streamline our selection of investment options. For you, this means making a choice about how you’d like us to invest your super moving forward.

If you’re invested in an option that’s being closed, the balance you’ve invested in it will automatically be moved to a replacement option on 2 November 2024, unless you choose a different option.
If you’d like to choose a different investment option, you can switch to another option before 4pm, 29 October 2024 (AEDT).
You can switch between options as normal before 4pm, 25 September 2024 (AEDT) but after this date you won’t be able to switch any additional funds into the closing options. Restrictions apply after this date – see ‘Things to know if you want to make changes to your investments’.
If you’ve previously elected for your contributions to be invested in a closing option, you’ll need to tell us which option you’d like us to invest your future contributions into.
- If you haven’t chosen a new option, any contributions received after 4pm, 29 October 2024 (AEDT), that were intended for a closing option, will be invested in our default MySuper product, the Growth investment option (known as Core Strategy until 30 September 2024).

Here are some of the key changes summarised in the table below, effective from 30 September 2024. You can read more about the details in the Investment Options Refresh booklet.

Investment option	Available to all Rest members from 30 September 2024	Update to investment objective	Name change
Cash		-	-
Capital Stable			-
Balanced			-
Balanced - Indexed		-	-
Growth (known as Core Strategy until 30 September 2024)
Sustainable Growth			-
High Growth			-
Australian Shares - Indexed		-	-
Overseas Shares - Indexed		-	-
Bonds	❌	-	-
Property	❌	-	-
Diversified	❌	-	-
Shares	❌	-	-
Australian Shares	❌	-	-
Overseas Shares	❌	-	-

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Great! If you’re happy with the replacement option(s), we’ll automatically action the switch for you. Any balance you have in the closing option at 4pm, 29 October 2024 (AEDT) will be switched to the replacement option on 2 November 2024. We’ll let you know in November 2024 when the switch has taken place.

No buy spread will be charged when we automatically switch your current account balance to the replacement option.

The replacement option for each closing option is shown in the table below.

Closing option	Replacement option
Diversified	Growth (known as Core Strategy until 30 September 2024)
Property	Balanced
Bonds	Capital Stable
Shares	High Growth
Overseas Shares	Overseas Shares - Indexed
Australian Shares	Australian Shares - Indexed

We’ve selected the closest match to your closing investment option based on its underlying mix of asset classes and its expected risk and return level. You can find more information on why the replacement option was chosen for the closing option in the Investment Options Refresh booklet. The replacement option(s) aren’t based on any other features of your Rest account, and don’t take into account your individual objectives, financial situation or needs.

If you’re happy with the new replacement investment option(s), you still need to tell us where you’d like your future contributions to be invested using MemberAccess. Find out how under ‘Changing your investment option’.

If you don’t tell us where you’d like your contributions invested, any contributions we receive for a closing option after 4pm, 29 October 2024 (AEDT) will be invested in our default MySuper product, the Growth investment option (known as Core Strategy until 30 September 2024). You can find more information on the Growth option, including fees and costs, in the Investment Options Refresh booklet.

No problem! If you’d like to choose a different investment option(s), you can make a switch to another investment option of your choice by logging in to the Rest App or logging in to your MemberAccess account online.

There are some things you should know about if you’re switching investments before the options are closed.

A buy spread of up to 0.11% will apply if you ask to switch to the replacement or any other investment option(s).

Explore the selection of investment options available to Rest members effective 30 September 2024 at a glance below – you can see all the details in our Investment Options Refresh booklet. If you’re not sure which option is right for you, our online Investment Choice Solution^ can help.

^Rest Digital Advice, including the Investment Choice Solution, is provided by Link Advice Pty Ltd ABN 36 105 811 836, AFSL 258145.

Investment option	How it's invested	Risk band and level*
Growth (known as Core Strategy until 30 September 2024)	A mix of growth and defensive assets, with a focus on growth assets	6, High
Capital Stable	Mostly defensive assets	3, Low to Medium
Balanced	A balance of growth and defensive assets	5, Medium to High
Balanced - Indexed	A mix of growth and defensive assets, with a focus on growth assets	6, High
High Growth	Strongly focused on growth assets, with a minor allocation to defensive assets	6, High
Sustainable Growth	A mix of growth and defensive assets, with a focus on growth assets	6, High
Cash	Mostly defensive assets	1, Very Low
Overseas Shares – Indexed	Mostly growth assets	6, High
Australian Shares – Indexed	Mostly growth assets	7, Very High

You can update your investment options as usual by submitting a switch request by 4pm, 25 September 2024 (AEDT) (a buy spread will apply).

There are restrictions that apply to switching from 4pm on 25 September 2024 (AEDT) until the options are closed on 2 November 2024:

You won't be able to switch any additional funds into the closing options after 4pm, 25 September 2024.
- If you make any switches between 4pm, 25 September 2024 and 4pm, 29 October 2024, you'll need to switch 100% of your balance in a closing option to another option(s).
You won't be able to switch investment options from 4pm, 29 October 2024 until after your balance in a closing option is automatically switched to a replacement option on 2 November 2024.
You’ll need to provide instructions for your future contributions by 4pm, 29 October 2024, otherwise contributions received after this date will be invested in our default MySuper product, the Growth investment option (known as Core Strategy until 30 September 2024).

More information about the restrictions and timings for closing the options can be found in the ‘Key dates’ section of the Investment Options Refresh booklet.

Updates to investment objectives

From 30 September 2024, there are updates to how we describe the investment objectives for the Capital Stable, Balanced, Growth (known as Core Strategy until 30 September 2024), Sustainable Growth, and High Growth investment options. The updates are:

Fees and taxes now shown in the investment objective - we’ve made it clearer that the objective (our target investment return) is after the deduction of fees and taxes.
Extending the objective timeframe for measuring the Capital Stable and Balanced options - we’ll now measure how these options are performing over longer, rolling 10-year periods.

The table below shows the current and updated investment objectives for the affected options. The updates outlined in the table below don’t change how your super is invested, or the level of potential risk or return of the option.

Investment option	Current investment objective	Investment objective from 30 September 2024
Current and updated investment objectives*
Capital Stable	CPI +1% pa over the medium-term (rolling 4-year periods)	CPI +1% pa (after fees and tax) over rolling 10-year periods
Balanced	CPI +2% pa over the medium-term (rolling 6-year periods)	CPI +2% pa (after fees and tax) over rolling 10-year periods
Growth (known as Core Strategy until 30 September 2024)	CPI +3% pa over the long-term (rolling 10-year periods)	CPI +3% pa (after fees and tax) over rolling 10-year periods
Sustainable Growth	CPI +3.5% pa over the very long-term (rolling 12-year periods)	CPI +3.5% pa (after fees and tax) over rolling 12-year periods
High Growth	CPI +4% pa over the very long-term (rolling 12-year periods)	CPI +4% pa (after fees and tax) over rolling 12-year periods