You're in control as to how your money's invested with GESB.
You can invest in any or all of the 5 asset classes.
You can change your asset allocation how and when you like.
Change plan You can change your plan by logging into Member Online. Not sure if this is the right plan for you? Try our Selecting your investment plan tool.
To outperform the plan's benchmark index over rolling 3 year periods. The Mix Your plan Property benchmark index is FTSE EPRA/NAREIT Developed Net Total Return Index, hedged into Australian dollars.
Very high risk (based on Standard Risk Measure bands).
Estimated number of negative annual returns over any 20-year period is less than 6.
$260 per year in fees and other costs for a member with an account balance of $50,000+.
10 year average annual return of 3.42% as at 30 June 2025.
| Year ending June 30 | Return ^ |
|---|---|
| 2025 | 8.32% |
| 2024 | 6.06% |
| 2023 | -4.76% |
| 2022 | -8.85% |
| 2021 | 28.68% |
| 2020 | -17.21% |
| 2019 | 7.24% |
| 2018 | 7.83% |
| 2017 | 2.27% |
| 2016 | 11.41% |
+ Statement of fees and other costs are based on fees over the 2024/25 financial year. It includes all investment and administration fees and expenses for an account balance of $50,000. For more information, see the Retirement Income Pension Product Information Booklet. You should read all the information about fees and costs, because it is important to understand their impact on your investments.
^ Returns are reported after factoring in the investment fees and costs, administration fees and inclusive of franking credits, and are based on transactional prices. The investment fees and costs include all investment costs, transaction costs and any other underlying costs relating to your investment. The returns shown here are different from those shown on other pages as they are based on a member with an account balance of $50,000 and are reported net of administration fees.
Our schemes are Exempt Public Sector Superannuation Schemes and are regulated by the WA State Government and not the Australian Government.
The State Government guarantees to pay every benefit payable under a scheme, including the accumulation, retirement and defined benefit schemes. This Benefit Payment Guarantee does not include investment market losses.
The performance of your investment plan is not guaranteed, and returns may move up or down depending on factors such as investment market conditions. Past performance should not be relied on as an indication of future performance.
The graph shows the value of $10,000 invested since 1 July 2016 in the RI Allocated Pension Mix Your plan Property, when compared to the RI Allocated Pension Cash plan.
The growth in plan balances are net of the investment fees and costs and inclusive of franking credits.
The RI Allocated Pension Mix Your plan Property is designed for people who can accept a high level of fluctuation in investment returns from year to year, and are seeking return and risk characteristics similar to the global listed real estate market.
The Moving average returns^ are annualised returns over rolling 10 year periods. For years where the full 10 year data is not available, the Moving average return will not be shown.
Estimated number of negative annual returns over any 20 year period is greater than 6. See Risk explained tab above
Return target to outperform the benchmark index* over rolling 3 year periods
10 years or more
$260 per year in fees and other costs for a member with an account balance of $50,000 fully invested in Mix Your plan Property
For more information around this plan, refer to the Retirement Income Pension Product Information Booklet.
^ Returns are reported after factoring in the investment fees and costs, administration fees and inclusive of franking credits, and are based on transactional prices. The investment fees and costs include all investment costs, transaction costs and any other underlying costs relating to your investment. The returns shown here are different from those shown on other pages as they are based on a member with an account balance of $50,000 and are reported net of administration fees.
* FTSE EPRA/NAREIT Developed Net Total Return Index, hedged into Australian dollars. Note the Mix Your plan Property option only invests in listed Property investments.
All Mix Your plan strategies may contain a small strategic allocation to Cash for liquidity purposes.
Our schemes are Exempt Public Sector Superannuation Schemes and are regulated by the WA State Government and not the Australian Government.
The performance of your investment plan is not guaranteed, and returns may move up or down depending on factors such as investment market conditions. Past performance should not be relied on as an indication of future performance.
No investment can ever be guaranteed to perform well. The nature of investing means there’s always the potential for your investment to lose value from year to year.
Over the long term, you can think of risk as the chance that the rate of return on your investments might not be enough to provide you with the income you’ll need in retirement.
The appropriate level of risk for you will depend on your age, how long you’re investing for, what other assets you might have outside super and how they are invested, and how comfortable you are with the possibility of losing some of your investment in some years.
When choosing your investment plan, the amount of time you want to invest for may impact how much risk you’re willing to take. You don’t need to choose the best performing investment plan. You need the one that best suits your investment personality and your goals.
Generally speaking, the higher the potential return from an asset over time, the higher the potential risk.
The Association of Superannuation Funds of Australia (ASFA) and the Financial Services Council have created the Standard Risk Measure to help members compare the potential risk of various investment plans.
Shown below are the Readymade and Mix Your plans for RI Allocated Pension, and where they sit on the risk scale compared to each other. The plans are positioned on the chart based on their risk level.
You can see that Mix Your plan Australian Shares is higher risk than the Readymade Growth plan. That's because the Growth plan also includes assets like Investment Grade Bonds and Cash which bring the risk down. The combination of high risk and low risk assets set the risk level for each Readymade plan, while you pick your own mix with RI Allocated Pension Mix Your plan.
For more information on investment risk, please refer to the Retirement Income Pension Product Information Booklet.
RI Allocated Pension Mix Your plan Property invests in invests in listed Property investments, but all Mix Your plan strategies may contain a small strategic allocation to Cash for liquidity purposes.
The below investment mix represents the actual asset allocation for the selected plan as at 28 February 2026.
The above investment mix is updated monthly and represents the mix for the actual allocation for your plan. It may differ from the Strategic Asset Allocation (SAA) – our long-term target for allocating assets between asset classes – for our plans. Asset classes with a zero allocation are not displayed.
^ The Growth/Defensive split is the target allocation mix of Growth and Defensive assets. Some asset classes such as Infrastructure, Medium Risk Alternatives and Property are classified as part Growth and part Defensive. These asset class mixes are taken into consideration when calculating the overall plan's Growth/Defensive split.
The Mix Your plan Property option only includes listed investments, not unlisted investments.
We employ a diversified group of external investment managers to invest your funds. We typically have multiple investment managers in each asset class to mitigate the risk of having a concentrated exposure to a particular investment manager or investment style.
Investing in Australia and overseas is complex - so we use professional investment managers.
Our investment managers specialise in buying, selling and analysing specific types of investments, or asset classes.
Our investment managers buy and sell assets on our behalf. For example, our investment managers for Australian Shares work within our risk guidelines to decide which companies to buy and sell Shares in, and then place orders for those Shares.
This approach means we can use the skills of a range of investment managers based globally, without concentrated influence from a particular manager or investment style. It allows us to maintain a balance of assets across a range of investment managers, which helps us achieve our long-term investment goals.
Our asset consultant has an in-depth understanding of investment markets and uses a thorough, detailed process to find the right investment managers. Our asset consultant looks for the investment managers which have defined investment approaches and are most likely to help us achieve long-term returns.
We regularly review our choice of investment managers. We check their risk and return profiles and make sure they meet our expectations.
For more information see our investment governance statement and approach to responsible investing.
Under the State Superannuation Act 2000, the State Treasurer needs to approve:
We’ve listed the investment managers we use for each asset class. Find out more about each investment manager, including an interesting fast fact.
Fast fact:
Northcape specialises in managing high-conviction portfolios of quality Australian companies. Through rigorous fundamental research, it selects businesses with strong balance sheets, proven management, attractive growth prospects, and durable competitive advantages to build a style-agnostic portfolio that delivers consistent alpha generation.
Mandate:
To manage an active portfolio of Australian equities.
Fast fact:
Pendal’s Australian Equity portfolios are managed in a ‘core’ investment style. This enables Pendal to deliver consistent outperformance, regardless of market trends, through active stock selection and company research.
Mandate:
To manage an active portfolio of Australian equities.
Fast fact:
Perpetual Investment Management Limited adopts an investment style based on bottom-up fundamental analysis, seeking quality companies with sound management, conservative debt levels, recurring earnings and a quality business.
Mandate:
To manage an active portfolio of Australian Equities.
Fast fact:
The empowered analyst model is designed to produce long-term consistent 'alpha' generation with crystal clear performance attribution. Solaris is a 'bottom up', style-neutral Australian Equity manager that designates analysts to be the portfolio manager for their sector.
Mandate:
To manage an active portfolio of Australian equities.
Fast fact:
Spheria Asset Management Pty Limited (Spheria) has developed a leading-edge technology system that allows it to efficiently review and analyse a company’s financial history using data from third-party providers. This provides Spheria with a consistent template to model listed companies in Australia, New Zealand and many international markets.
Mandate:
To manage an active portfolio of Australian small to medium-sized capitalisation equities.
Fast fact:
Vinva is a quantitative style manager.
Mandate:
To manage an active portfolio of Australian equities.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial wellbeing. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage indexed portfolios of global equities.
Fast fact:
C Worldwide Asset Management (CAM) refers to their investment approach as trend-based stock picking. It is a trend/theme influenced top-down framework combined with a bottom-up stock-picking approach.
Mandate:
To manage an active portfolio of global Equities.
Fast fact:
All of Causeway's strategies are managed through a fusion of fundamental and quantitative research disciplines.
Mandate:
To manage an active portfolio of global Equities.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international Equity portfolio.
Fast fact:
Ninety One is a specialist investment manager.
Mandate:
To manage an active portfolio of emerging market Equities.
Fast fact:
Schroders is a quantitative-value and quality-style manager.
Mandate:
To manage an active portfolio of Global Equities.
Fast fact:
Vinva is a quantitative-style manager.
Mandate:
To manage an active portfolio of global equities.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international Equity portfolio.
Fast fact:
StepStone Group covers the global private markets across multiple sectors and operates from 24 offices in 15 countries.
Mandate:
To manage a global Private Equity portfolio.
Fast fact:
Aberdeen Investments has GBP43.2 billion under management in real estate, investing in 22 countries, with a focus on environmental, social and governance (ESG).
Mandate:
To manage a portfolio of European Unlisted Property assets.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial wellbeing. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage an indexed portfolio of global listed property securities.
Fast fact:
As of 31 December 2022, Charter Hall had more than $3 billion invested alongside their capital partners, because they believe that fundamental to long-term success, is mutual success.
Mandate:
To manage a portfolio of domestic Unlisted Property assets.
Fast fact:
Dexus is a leading, fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $61 billion.
Mandate:
To manage a portfolio of assets in the Unlisted Retail Property sector.
Fast fact:
The GPT Group (GPT) was Australia’s first property trust when it listed on the Australian Securities Exchange in 1971.
Mandate:
To manage a portfolio in the Unlisted Office Property sector.
Fast fact:
Invesco is an independent firm, solely focused on investment management. They direct all their intellectual capital, global strength and operational stability towards helping investors achieve their long-term financial objectives.
Mandate:
To manage a portfolio of US core, Unlisted Real Estate assets.
Fast fact:
Lendlease’s Australian funds management platform is a leader in sustainability and each of its flagship funds has a responsible Property investment strategy in place.
Mandate:
To manage a portfolio of assets in the Unlisted Retail and Office Property sectors.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international Equity portfolio.
Fast fact:
PATRIZIA is the leading global partner for pan-European real estate investment.
Mandate:
To manage a portfolio of UK Unlisted Property assets.
Fast fact:
QIC is a Queensland Government-owned corporation.
Mandate:
To manage a portfolio of assets predominantly in the unlisted retail sector.
Fast fact:
Resolution Capital adopts a multi-portfolio manager approach for its portfolio construction.
Mandate:
To manage a diversified portfolio of global Listed Property securities.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial wellbeing. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage an indexed portfolio of global listed infrastructure securities.
Fast fact:
Brookfield Asset Management invests in high quality businesses that form the backbone of the global economy.
Mandate:
To manage a portfolio of global, unlisted infrastructure assets.
Fast fact:
ClearBridge’s infrastructure team are infrastructure specialists managing funds, not fund managers managing infrastructure.
Mandate:
To manage an active portfolio of globally listed infrastructure securities.
Fast fact:
IFM invests on behalf of many Australian super funds with members collectively representing more than half of all Australian workers.
Mandate:
To manage a portfolio of global, unlisted infrastructure assets.
Fast fact:
Mesirow Financial is a leading, independent currency specialist, delivering customised risk management solutions to institutional clients globally since 1990.
Mandate:
To manage a passive currency hedge over GESB's international Equity portfolio.
Fast fact:
Morrison is one of the world's longest standing, highest performing infrastructure investors. Morrison applies its specialist investment approach, refined over multiple decades and economic cycles, to invest in infrastructure for the modern economy.
Mandate:
To manage a portfolio of global, unlisted infrastructure assets.
Fast fact:
Bain Capital Credit is a specialist high yield credit manager.
Mandate:
To manage an active portfolio of high yield credit securities.
Fast fact:
BlackRock’s purpose is to help more and more people experience financial wellbeing. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Mandate:
To manage a multi-strategy absolute return fund.
Fast fact:
Challenger Investment Management Fixed Income specialises in Australian private and public credit.
Mandate:
To manage an Australian, private credit portfolio.
Fast fact:
RenaissanceRe is a global provider of reinsurance and insurance. RenaissanceRe’s Capital Partners team offers investment opportunities in insurance-linked instruments that have low correlation to the broader securities market.
Mandate:
To manage a diversified portfolio of insurance-linked securities.
Fast fact:
Schroders specialise in asset management.
Mandate:
To manage a diversified portfolio of securities and asset classes with an inflation plus four to five percent return objective.
Fast fact:
Macquarie is one of the largest Fixed Interest managers in the Australian market.
Mandate:
To manage an active portfolio of Australian Investment Grade Government Bonds and Credit Securities.
Fast fact:
PIMCO is one of the world’s premier Fixed Income investment managers.
Mandate:
To actively manage a portfolio of investment-grade global Government Bonds and global Credit Securities.
Fast fact:
Wellington is one of the world's largest independent investment management firms.
Mandate:
To manage an active portfolio of investment grade global government bonds and credit securities.
Fast fact:
Ardea is a Fixed Income manager specialising in pure ‘relative value’ strategies.
Mandate:
To manage a portfolio of primarily government, Fixed Income securities that are rated investment grade.
Fast fact:
Coolabah has one of the largest investment teams in Australian investment-grade credit.
Mandate:
To manage an active portfolio of Australian and global Investment Grade Government Bonds and Credit Securities.
Fast fact:
Founded in 2017, Daintree has become one of the fastest growing Australian Fixed Income boutiques.
Mandate:
To manage an absolute return portfolio of primarily investment-grade, Fixed Income securities.
Fast fact:
Jamieson Coote Bonds is a Fixed Income manager specialising in domestic and global Government Bonds.
Mandate:
To manage an absolute-return portfolio of high-grade global Fixed Income securities.
Fast fact:
Kapstream's founders previously worked for PIMCO Australia.
Mandate:
To manage an absolute-return portfolio of primarily investment-grade Fixed Income securities.
Fast fact:
First Sentier Investors is a standalone global investment management business, part of Mitsubishi UFJ Trust and Banking Corporation (MUTB), a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc.
Mandate:
To manage an active portfolio of cash securities.
Fast fact:
Macquarie is one of the largest Fixed Interest managers in the Australian market.
Mandate:
To manage an active portfolio of cash securities.
Fast fact:
With a proud history as a leader in responsible investment, Pendal offers a range of innovative strategies specifically designed for responsible investing-related needs.
Mandate:
To manage an investment in the Pendal Sustainable Balanced Fund, a multi-asset portfolio that takes into consideration a range of sustainable, ethical and financial criteria.
Total fees per year
0.52% + $0Account keeping fees
$0Administration fee
0.12%Estimated investment fees and costs
0.40%For example
Total fees for an account balance of $50,000:
Total estimated annual fee$260
Statement of fees and other costs are based on fees over the 2024/25 financial year. It includes all investment and administration fees and expenses for an account balance of $50,000. For more information, see the Retirement Income Pension Product Information Booklet. You should read all the information about fees and costs, because it is important to understand their impact on your investments.
Our investment fees and costs are not fixed, and are reviewed periodically and adjusted to reflect the most recent expenses related to your investments. The actual investment fees and costs can only be determined at the end of each financial year. This is estimated to be between 0.18% p.a. and 0.52% p.a. of the value of your investments, depending on which investment options you choose. This is deducted from the fund's assets before the daily unit price is calculated. The administration fee for managing your account is 0.12%. This is not a separate fee, and is included in the total annual fee shown above. Please note, the investment fees and costs percentage includes any costs relating to transaction costs.
Many super funds charge a buy/sell spread when switching between investment options. These are transaction costs to cover expenses such as brokerage and stamp duty that is incurred when buying and selling units. We do not currently charge a buy/sell spread when switching between investment options.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 29 February 2024.
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