Investment update – 2025/26 financial year
Highlights
- All major asset classes generated positive returns despite a challenging geopolitical and economic backdrop
- International Shares was the best performing asset class, returning 21.3%, with much of the gains being driven by the Information Technology sector
- Australian Shares gained 6.2%. Within this asset class, the Materials sector performed the strongest, returning 52.1%, as a rebound in commodity prices led to strong gains in mining stocks
- Despite higher interest rates across major economies and ongoing inflationary pressures, Global Bonds and Australian Bonds rose 2.8% and 1.5%, respectively
- Our investment options delivered strong returns for members. My GESB Super added 9.90% after fees and taxes, and My West State Super returned 9.83% after fees
- Returns in the June quarter played a key part in our annual performance. Over the quarter, My GESB Super returned 5.94%; My West State Super returned 6.08%; and RI Allocated Pension Conservative returned 3.48%
Year in review – with John Lim
Investment market returns: short and medium term
All asset classes performed strongly across the quarter, with International Shares and Global Listed Property recording the biggest gains. Australian Shares, International Shares and Global Listed Property also performed well over the one and three-year periods. Global Bonds and Australian Bonds finished the quarter in positive territory and continue to perform modestly over the one and three-year periods.
What were the main reasons for recent investment market returns?
- Information Technology continues to drive share market performance
International Shares rose 14.5% over the quarter, led by the Information Technology sector (+33.7%). The Industrials (+12.4%) and Financials (+12.7%) sectors also performed well, underpinned by resilient economic conditions and corporate profitability. Despite International Shares performing well overall, technology and semiconductor stocks continue to account for a significant share of index gains.
Australian Shares added 4.1% over the quarter, led by the Consumer Discretionary (+18.0%) and Information Technology (+17.4%) sectors. Consumer Discretionary benefitted from improving consumer confidence and steady consumer spending, while Information Technology was supported by sustained demand for cloud services and automation solutions, with AI-related investment remaining a key market trend.
- Bonds advance despite inflationary pressures
Global Bonds returned 1.4% over the quarter, supported by falling oil prices later in the quarter and easing concerns around global growth. Although inflation remained above central bank targets across most developed economies, expectations for limited interest rate increases helped to stabilise government bond yields.
Australian Bonds performed strongly (+2.6%), outperforming their international counterparts. Domestic economic data remained resilient, with unemployment falling in May and household spending exceeding expectations. However, inflation remained above the RBA’s target. The RBA maintained a cautious approach, continuing to emphasise inflation as its primary focus.
Investment market returns: long term
Over the longer term (10 years), Shares have produced the highest returns but with greater variability. Cash and Bonds have delivered lower but more stable returns. This is illustrated in the chart below.
What does this mean for your super?
Performance of asset classes
The graph below shows the returns we achieved in a range of asset classes compared to the benchmark return over the three years to 30 June 2026.
As shown in the above graph, we have performed above benchmark in most asset classes over the past three years.
Performance of investment options
Investment returns over both the short and long term for some of our diversified options are shown in the table below. You can also see the investment return history for all of our available options.
| June quarter 2026 | 1 year | 3 years (p.a.) | 5 years (p.a.) | 10 years (p.a.) | |
|---|---|---|---|---|---|
West State Super Growth option3 | 7.98% | 12.62% | 12.55% | 8.54% | 8.77% |
My West State Super3 | 6.08% | 9.83% | 10.08% | 6.48% | 7.27% |
My GESB Super1 | 5.94% | 9.90% | 10.22% | 7.05% | 7.42% |
RI Allocated Pension Balanced option1 | 5.51% | 8.94% | 9.63% | 6.32% | 7.10% |
RI Term Allocated Pension Balanced option1 | 5.50% | 8.80% | 9.47% | 6.16% | 6.87% |
Transition to Retirement Pension Balanced option2 | 4.82% | 8.10% | 8.72% | 5.87% | - |
RI Allocated Pension Conservative option1 | 3.48% | 6.42% | 7.10% | 4.22% | 4.52% |
Other investment options | |||||
Returns greater than one year are annualised.
Despite market volatility in recent times, our diversified options have delivered sound returns over all time periods.
More information
- Try our Selecting your investment choice tool
- Find out more about investing with us
- See our super investment options or retirement investment options
Need help?
- Investment FAQs
- Find a personal financial adviser
- Call us on 13 43 72
1 Returns are reported net of fees and taxes.
2 Transition to Retirement Pension was incepted on 15 June 2017, so 10-year returns are not available. Returns are reported net of fees and taxes.
3 Returns are reported net of fees.
Indices: Australian Shares - S&P/ASX 300 Accumulation Index; International Shares - MSCI All Country World ex-Australia Index (partially hedged); Global Listed Property - FTSE EP/NAR DEV NET HDG AUD; Australian Bonds - Bloomberg AusBond Composite 0+ Yr Index; Global Bonds - Bloomberg Barclays Global-Aggregate ex-CNY Index Hedged AUD; Investment Grade Bonds – 50/50 composite of Australian and International Bonds; Cash - Bloomberg AusBond Bank Bill (BB) Index; Listed Infrastructure - FT Dev Core Infr 50/50 Hdg; Medium Risk Alternatives - Bloomberg AusBond BB Index + 3.75%pa; Defensive Alternatives - Bloomberg AusBond Credit 0-3Yr Index.
Performance information should be used as a guide only, is of a general nature, and does not constitute legal, taxation, or personal financial advice. The performance of your investment option 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. In providing this information, we have not considered your personal circumstances including your objectives, financial situation or needs. We are not licensed to provide financial product advice. Before acting or relying on any of the information in this website, you should review your personal circumstances and assess whether the information is appropriate for you. You should read this information in conjunction with other relevant disclosure documents we have prepared and where necessary seek advice specific to your personal circumstances from a qualified financial adviser.
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 27 July 2026.