POWERED BY MOMENTUM MEDIA
AustralianSuper posts super results
AustralianSuper has released its annual performance figures and its fourth consecutive positive result for its balanced investment option.
The industry fund returned 15.63 per cent after investment fees and taxes for the balanced option, into which most fund members are invested.
Earlier this week research house Chant West said early estimates showed super funds would post their second-best performance in 16 years, with the average balanced option returning 15.5 per cent.
AustralianSuper chief investment officer and deputy chief executive, Mark Delaney, said that although performance had been strong, the fund had weathered a lot of volatility over the last 12 months.
"People shouldn't focus too much on one-year numbers," he said.
"For most people super is a long-term investment which needs a sensible long-term strategy, and part of that is accepting that returns will go up and down from year to year.''
The fourth positive year for AustralianSuper's balanced option brings the fund's average 10-year returns to 7.64 per cent.
Equity markets proved a positive boost to the balanced option, with Australian equities returning 21.9 per cent and global equity markets returning 21.4 per cent. In key markets, the US and Japan were up 20.6 per cent and 51.9 per cent respectively. A low Australian dollar also helped increase the value of overseas assets by 11.8 per cent.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
