The FirstChoice Lifestate 2000-2004 investment option is “designed for people born in the 21st century” and is heavily biased towards growth assets, according to CFS.
Only 10 per cent of the investment option is directed towards more defensive assets, said the statement.
CFS general manager for product and investments, Peter Chun, said younger superannuation members have time to “ride out” the ups and downs of the investment market, making property and shares a smarter bet.
“These assets have a greater potential to deliver higher returns over time and therefore grow the member’s retirement savings above inflation,” Mr Chun said.
“We have 12 FirstChoice Lifestage options, ranging from one for the first Baby Boomers through to our Millennial cohort, and we manage more than $3 billion in assets in these options,” he said.
