There has been a huge mismatch between the risks super funds have been taking and the return requirements of their members. The trick is in knowing where to look among the almost unlimited investment "opportunities" out there. But a warning, in Australia, the regulatory approach is best described as almost anything goes as long as it is disclosed. It is up to investors to make sure that any potential investment is from a reputable provider that is operating within the regulated marketplace. Planes and ports

Infrastructure investments such as utilities, ports, airports and telecommunications can offer attractive returns. With a bit of work and diversification of assets, you can put a rocket on your investments. Illustration: Rocco Fazzari Shane Oliver, the chief economist at AMP Capital Investors, says some of these investments can have annualised "total" returns that include a steady income plus capital growth in excess of 10 per cent. The way into these investments is through managed funds that will hold stakes in many infrastructure assets. Dr Oliver cautions that returns could be lower than they have been as investor demand has been strong in response to falling interest rates. That makes infrastructure assets more expensive to acquire at present.

Even so, "infrastructure remains attractive compared to the low returns on offer from bonds and cash", Dr Oliver says. Unlisted property Long-term total returns from office blocks and shopping centres have been around 10 per cent, says Dinesh Pillutla, the managing director at PIR, a specialist property investment researcher. With unlisted property, the income return is about 7 per cent and is fairly secure as the tenants of an office block, for example, will be on long leases. About 3 per cent can be expected in capital growth over the long term. With the property syndicates, there will usually be only one asset, such as an office tower, and investors' money is tied up for at least five years.

After the initial term, typically five years, a unit holder meeting is called to decide whether to sell the property or extend the term. Also, the minimum investment can be relatively high, often at least $25,000. Online markets There are many types of online marketplaces that can provide investors and savers with higher returns. For example, peer-to-peer (P2P) lenders such as Ratesetter are offering investors more than 8 per cent a year in interest.

The lender decides how much to lend and at what interest rates and the platform tries to match this up with a borrower. The loans are mostly debt consolidation or car finance. Australian shares Elio D'Amato, the director of research and education at shares researcher Lincoln Indicators, says to beat market returns investors must look outside of the largest companies. "The trick when identifying growth opportunities over the long run is that you need identify the big companies 'of tomorrow' rather than look at the big ones today," D'Amato says. His tips for smaller companies that have the potential to grow include Bellamy's Australia, which is capitalising on the growing Asian demand for organic milk formula.

D'Amato expects bionic ear-maker Cochlear to continue to produce "robust" earnings growth as it successfully rolls out new products. He also likes online classified site Carsales, which has strong domestic operations and an increasingly growing international presence. Corporate bonds Investing in a corporate bond entails lending money to a company that makes interest payments in return. The risk with a corporate bond is that the company gets into trouble and might not be able to pay all the interest, or return all the capital at the end of the term.

The more creditworthy the company, the less it needs to pay on its bonds to attract investors. A problem with buying bonds direct for small investors is that big investment amounts are usually needed. Fixed interest broker FIIG Securities provides access to corporate bonds with a minimum investment of $10,000 in each bond and a minimum investment of $50,000 overall. Alternatives "Alternative investments" is a term for a grab bag of options that do not fall under one of the traditional assets classes of shares, property and fixed interest.

Some investments are very risky and therefore more suitable for the "play money" of the wealthy who can afford to lose their money. However, there are some managed funds that invest in a way that reduces the risks, including a group of managed funds employing hedge fund strategies, and this could play a role in the portfolios of small investors. Rodney Sebire, head of alternatives research at Zenith Investment Partners, has recently conferred Zenith's second-highest "recommended" rating to the Watermark Market Neutral the Trust, which invests mostly in Australian shares. About half of the money is invested in the usual way – with the expectation that share prices will rise. However, the other half of the money is invested in shares whose prices the manager believes will fall.

This is called "shorting", where money can be made on a falling share price. If the strategy goes to plan then money is made on both sides. The fund has produced annualised returns of just under 10 per cent, after fees, over the past three years to July 31 this year. Another example is Blue Sky Alternative Investments, which is accessible through a listed investment company on the ASX. The investment portfolio includes private equity, venture capital, water rights and agribusiness finance. Access higher returns Exchange-traded funds (ETFs) are listed on the Australian sharemarket and mostly index trackers, meaning their return match the returns of the market there are tracking.

Units in them are traded like any shares, and management fees are generally very low. Chris Brycki, the founder of Stockspot, online investment adviser, says emerging markets shares are perhaps due for a good run. Over the past five years emerging markets shares have dramatically underperformed developed-market shares, he says. Brycki's emerging markets pick is the iShares Emerging Markets ETF, which offers exposure to over 800 companies listed on the sharemarkets of countries such as China, India and Brazil. For investors looking for higher returns, Brycki likes the GOLD ETF, which, as its title suggests, tracks the gold price.

Loading "While global interest rates are low – or in many countries negative, we believe gold will continue to attract funds as a store of value and protection against currency debasement," he says. "It's also a great portfolios diversifier and able to help absorb volatility in a portfolio that is focused in shares."