Superannuation funds deliver 9.1 percent return for FY24

Strong share markets in Australia and overseas drove better-than-expected returns for superannuation growth funds in FY24, according to Chant West. The median growth fund, which comprises 61 percent to 80 percent growth assets likes shares, returned 9.1 percent in FY24. This was virtually a mirror performance of FY23 when the median superannuation growth fund returned 9.2 percent.

Chant West Senior Investment Research Manager, Mano Mohankumar, said FY24 was the 13^th positive year for superannuation returns over the past 15 years. “The return experience over the past two years in the face of much uncertainty is another reminder of the importance of remaining patient and maintaining a long-term focus,” he said. “… FY23 kicked off amid surging inflation and uncertainty around when interest rate hikes might come to an end. At that time, I don’t think anyone could have forecast a 19 percent return over the subsequent two years and the small FY22 loss of 3.3 percent now seems like a distant memory.”

Mr Mohankumar said international shares were the biggest contributor to superannuation returns in FY24. As a group, international shares soared by 21.5 percent. The growth of overseas stock values was led by the American technology sector, with Magnificent Seven member Nvidia once again delivering astounding share price gains of 192 percent in FY24. Australian shares delivered total returns of 11.9 percent (including dividends) over FY24.

All major asset classes except unlisted property delivered positive returns in FY24, according to Chant West’s data. Australian listed property outshone international real estate with an impressive 23.8 percent return in FY24. International listed property returned 4.6 percent. High interest rates saw cash investments return a median 4.4 percent. Australian bonds returned 3.7 percent and international bonds returned 2.7 percent.

Unlisted property was dragged down by the office sector, with revaluations of buildings trending lower now that more people are working from home permanently following the pandemic. This has affected the demand for office space worldwide. In Australia, the average office occupancy rate is 76 percent of pre-pandemic levels, while US occupancy rates are about 50 percent, according to CBRE research.

Superannuation funds that had a higher allocation to shares and other growth assets outperformed the funds with balanced and conservative strategies, which are popular with pre-retirees. ‘All growth’ superannuation funds, which have a 96 percent to 100 percent allocation to growth investments, delivered a median 12.7 percent return in FY24. Balanced funds, which have a 41 percent to 60 percent allocation to growth assets, returned 7.4 percent. Conservative funds, which have just 21 percent to 40 percent in growth assets and higher allocations to defensive investments such as bonds, fixed income and cash, delivered 5.5 percent.

Girard-Perregaux has revealed the first watches created through its partnership with Atlassian Williams F1 Team, bringing the British racing team’s colours to one of Switzerland’s most recognisable integrated-bracelet designs.

The collaboration comprises two 42mm steel watches: the time-and-date Laureato Williams Edition and the more technical Laureato Chronograph Williams Edition.

Both retain the familiar architecture of the Laureato, including its octagonal bezel, integrated bracelet and mix of polished and satin-finished surfaces. The influence of Williams is comparatively restrained, appearing through colour, discreet branding and details inspired by the team’s current Formula 1 car.

It is a welcome departure from the oversized logos and literal automotive references that can characterise motorsport watches.

The Williams FW48 inspires the dial

The centrepiece of both models is a blue Clous de Paris dial informed by the livery of the Williams FW48, the car being campaigned by the team during the 2026 Formula 1 season.

A small Williams “W” replaces the conventional marker at 12 o’clock, while the team emblem appears on the sapphire crystal caseback. Red accents echo the keyline used on the FW48 without overwhelming the established Laureato design.

The three-hand model offers the quieter interpretation. Baton-shaped, rhodium-plated hands and hour markers are filled with white-emitting luminescent material, while a date window sits at three o’clock.

The chronograph creates a more obvious connection with motorsport. Three subdials are framed by rhodium-plated rings, with red appearing on the small-seconds hand and the tip of the central chronograph seconds hand.

Both watches measure 42mm across and are water resistant to 100 metres. The standard Laureato has a case thickness of 10.68mm, while the additional mechanics of the chronograph increase its profile to 12.16mm.

Two in-house automatic movements

The Laureato Williams Edition is powered by Girard-Perregaux’s self-winding GP01800 calibre. The movement provides hours, minutes, central seconds and the date, with a minimum power reserve of 54 hours.

The Laureato Chronograph Williams Edition uses the automatic GP03300 calibre, which combines its chronograph functions with a date display and offers a minimum power reserve of 46 hours.

Both movements operate at 28,800 vibrations per hour and can be viewed through their sapphire crystal casebacks.

Their decoration provides a more traditional counterpoint to the Formula 1 association. Finishing techniques include Côtes de Genève, circular graining, bevelling, mirror polishing, satin finishing, engraving and snailing.

The result is less about reproducing the appearance of a racing car than identifying the common ground between two mechanical disciplines: precision, incremental development and the considerable work hidden beneath the finished product.

Parallel histories

The timing of the partnership draws attention to the remarkably similar ages of its two protagonists.

Girard-Perregaux introduced the original Laureato in 1975, establishing an integrated-bracelet sports watch with a distinctive octagonal bezel. Williams entered Formula 1 two years later in 1977.

Both have evolved continuously across the five decades since. The Laureato has moved through different sizes, materials and complications, while retaining its central design language. Williams, meanwhile, has remained one of Formula 1’s most historically significant teams.

That gives the collaboration greater credibility than a simple licensing exercise. Girard-Perregaux and Williams are not being connected solely through the familiar language of speed. Their stronger link is a shared dependence on engineering, testing and the accumulation of specialist knowledge.

The watches are described as the beginning of a longer collaboration, suggesting further Williams editions may follow.

Girard-Perregaux’s international website lists the Laureato Williams Edition at US$16,200 and the Laureato Chronograph Williams Edition at US$20,900. Australian pricing has not been announced.

Specifications

Girard-Perregaux Laureato Williams Edition 42mm

Reference: 81010-11-3680-1GM
Case: Steel
Diameter: 42mm
Thickness: 10.68mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern
Movement: Automatic GP01800
Functions: Hours, minutes, central seconds and date
Power reserve: Minimum 54 hours
Water resistance: 100 metres
Bracelet: Integrated steel bracelet with triple-folding clasp
International price: US$16,200

Girard-Perregaux Laureato Chronograph Williams Edition 42mm

Reference: 81020-11-3681-1GM
Case: 904L steel
Diameter: 42mm
Thickness: 12.16mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern with three chronograph counters
Movement: Automatic GP03300
Functions: Chronograph, hours, minutes, small seconds and date
Power reserve: Minimum 46 hours
Water resistance: 100 metres
Bracelet: Integrated 904L steel bracelet with triple-folding clasp
International price: US$20,900