AustralianSuper reported an annual return of minus 2.7 per cent in its balanced option for the year, heralding what is expected to be a string of losses for pension funds
More than 2.4 million of AustralianSuper’s members will face a 2.7 per cent hit to their retirement savings for financial year 2022 as the $3.1 trillion sector falls prey to the turmoil in equity and bond markets.
AustralianSuper chief investment officer Mark Delaney said it was a “resilient” result for his team of portfolio managers, given the sharp downturn in sharemarkets and even in fixed income securities such as government and company bonds, which are usually seen as defensive assets.“The global equity market has come off 20 per cent in the second half of the year ...
Mr Delaney said AustralianSuper’s result would have been worse were it not for the balanced option’s 14 per cent allocation to unlisted infrastructure and 5.5 per cent allocation to unlisted property.“Unlisted asset values have held up pretty well,” he said. “What we like about those [assets] is they have an element of inflation protection in them.”delisted and taken private earlier this year
Since they are more “illiquid”, investing in these assets takes members for granted and assumes the fund will further increase,Advertisement
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