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Industry fund delivers top balanced option of FY23–24
The Hostplus Indexed Balanced option was the top performing option in the SR50 Balanced (60-76) Index of the last financial year, according to SuperRatings.
It returned 12.2 per cent for the year ending June 2024.
This was closely followed by Raiz Super’s Moderately Aggressive option and Colonial First State’s Enhanced Index Balanced option, returning 12.1 per cent and 11.4 per cent respectively.
SuperRatings noted balanced funds are those with a strategic allocation of between 60 per cent to 76 per cent of their portfolio invested in growth assets.
According to its analysis, the rest of the top 10 performing options were:
- ESSSuper - Balanced Growth (11.1 per cent)
- IOOF Employer Super – MLC MultiSeries 70 (10.9 per cent)
- Brighter Super – Balanced (10.6 per cent)
- GESB Super – My GESB Super Plan (10.4 per cent)
- Qantas Super – Growth (10.1 per cent)
- Australian Retirement Trust – Super Savings – Balanced (9.9 per cent)
- MLC MKey Business Super – MLC Balanced (9.6 per cent)
Funds with a higher exposure to shares and listed assets generally outperformed for the year, in a repeat of 2023, the research house observed.
Meanwhile, “those with greater exposure to unlisted property reported more subdued outcomes,” it explained.
“As a result, members who were invested in index funds generally outperformed more actively managed options, given the strong focus on, and allocation towards, listed shares.”
Broadly, SuperRatings observed an “impressive” year of returns, fuelled by Australian banking and international technology shares. This was despite a staggered start to the year.
“Concerns over inflation caused a slow start to the year, with multiple negative monthly returns recorded until October 2023,” it explained.
“Increased confidence in the outlook for inflation and ongoing developments in artificial intelligence led a market rally from November to March and while higher than expected inflation data led to a stumble in April, returns recovered quickly to finish the year strong.”
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
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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(%)
