The profit-to-member fund's High Growth option and Sustainable Growth option achieved returns of 14.09 per cent and 14.08 per cent respectively, while its Overseas Shares - Indexed option returned 28.05 per cent.

Rest's interim Co-Chief Investment Officer Kiran Singh said 2024 concluded positively, with markets performing as anticipated.

"Global share markets were stand-out performers - especially the US - during the past year. With several central banks moving to ease monetary policy and markets responding positively, we anticipate this should continue in 2025," Singh said.

The fund's MySuper Growth option has delivered long-term annual returns of 8.34 per cent since its inception in July 1988.

Singh noted that while equity valuations remained elevated, they were supported by economic resilience and earnings growth.

Rest's interim Co-Chief Investment Officer Simon Esposito said the fund would continue to focus on five long-term megatrends: decarbonisation, deglobalisation, demographics, digitalisation, and debt and central bank policy.

"The 5 megatrends are informing our scenario modelling for future market expectations. Thanks to the influence of these megatrends, we believe investors won't be able to just rely on a uniform increase in valuations across all assets, but will need to be more selective to be successful," Esposito said.

The fund recently committed $1 billion to Quinbrook Infrastructure Partners for sustainable data centres in the US and Queensland.

Rest also expanded its industrial property venture with Barings, now jointly holding approximately 475,000 square metres of leasable industrial space across Sydney and Melbourne.