The returns of Australian Retirement Trust’s default option appeared more than 1 percentage point higher after the superannuation giant switched its members from a balanced strategy to a high-growth one.
ART, the country’s second-largest manager of retirement savings, last year decided to move members under 50 – at the time some 1.4 million of its 2.4 million customers – who had not made their own investment choice into a riskier growth option in the hope of growing their super faster.
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