smartMonday posted gains both over the quarter and in the last 12 months to 30 September, with growth assets such as Australian and international shares providing the largest contributions to returns. Over three years, all smartMonday options have outperformed the SuperRatings market median.  

The table below shows smartMonday performance to 30 September 2025. Current returns for our pension investment options can be viewed here. 

smartMonday performance returns July-September 2025. Performance shown net of investment fees and taxes, annualised performance shown for periods greater than 1 year. Returns are not guaranteed and past performance is not a reliable indicator of future performance. Investments may be held directly, or indirectly through Exchange Traded Funds (ETFs) and other managed investment vehicles.

Super funds in general have had another solid quarter, with the median balanced fund up around 3.7% for the period and more than 10% over the year. Growth-oriented options led the way again, supported by resilient share markets and renewed investor confidence. 

smartMonday’s diversified approach meant members benefited from both growth and defensive assets during the period. Australian and international shares provided the biggest boost, while fixed income added steady value as the outlook for interest rates softened. 

While short-term relative performance was influenced by some manager underperformance in share allocations, long-term returns remain consistent with investment objectives – and in line with the outcomes members expect from a well-diversified super fund. 

Global markets finished the September quarter on a positive note, as strong corporate earnings and signs of policy easing helped offset trade and geopolitical uncertainty. In many regions, while growth is moderating from the post-pandemic boom, it remains firm enough to keep investors engaged rather than defensive. Investors welcomed the US Federal Reserve’s first interest rate cut since 2024, marking the start of what could be a gradual easing cycle. 

Excitement around artificial intelligence (AI) and innovation continued to drive share markets higher, particularly in the technology sector. While this growth theme remains a key driver of productivity and long-term returns, market volatility reminds investors of the importance of staying diversified and disciplined.  

Bond markets were steadier, supported by attractive yields and improving credit fundamentals, while the overall backdrop remained constructive for growth assets. 

Closer to home, Australia’s economy showed resilience through the quarter. Stronger-than-expected GDP growth and some upside surprises in inflation encouraged the Reserve Bank of Australia (RBA) to hold off on any further rate cuts, striking a hawkish tone with no discussion of further easing. 

The local share market performed well, with the Materials sector remaining firm and company earnings broadly supporting returns. Property and infrastructure assets also delivered gains, while bonds added modestly positive returns as yields stayed at appealing levels for long-term investors. 

As we move into the final quarter of 2025, global markets are keeping a close eye on the next moves from the US Federal Reserve. With inflation easing and the labour market showing early signs of cooling, investors are anticipating further rate cuts over the coming months – a shift that could continue to support share markets. 

Governments and central banks remain broadly supportive of growth, and the ongoing wave of AI innovation continues to underpin company earnings and market confidence. At the same time, signs of slowing momentum in consumer spending and historically tight credit spreads remind investors that conditions can change quickly. 

For smartMonday members, the key takeaway is that while markets are still offering solid opportunities, staying diversified and focused on the long term remains the smartest approach. Our investment strategy is designed to balance growth potential with careful risk management, and aims to keep your super well-positioned through whatever the next phase of the cycle brings.