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Actual asset allocations – Investment Funds

Each diversified option is assigned a medium to longer term target asset allocation, known as the strategic asset allocation. We also establish asset allocation ranges which are the minimum and maximum amounts we can invest in each asset class. You can view the strategic asset allocations and ranges for each of the investment options here.

The actual asset allocation in place at a particular time may vary from the strategic asset allocation because we use an active asset allocation approach.

Effective asset allocations for diversified investment options and single asset class investment options (Investment Funds Class A and Class B) as at 29 September 2023 can be found below.

Diversified options (Investment Funds Class A – closed to new accounts)

Asset Class Capital Stable Moderate Balanced Growth
Australian equities 6.5% 10.5% 18.2% 26.7%
International equities 9.1% 13.8% 24.0% 35.4%
Private equity
0.0% 0.0% 0.0% 0.0%
Infrastructure & real assets
6.6% 8.2% 8.2% 9.1%
Property 6.8% 8.6% 8.5% 7.5%
Liquid alternatives (Growth)
0.0% 0.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 2.6% 5.1% 0.0%
Credit income
5.1% 7.6% 7.6% 5.4%
Fixed income
20.2% 20.1% 20.0% 10.5%
Cash 45.7% 28.5% 8.4% 5.4%

Diversified options (Investment Funds Class B)

Asset Class Capital Stable Moderate Balanced Growth
Australian equities 6.5% 10.5% 18.2% 26.8%
International equities 9.1% 13.8% 24.0% 35.6%
Private equity
0.0% 0.0% 0.0% 0.0%
Infrastructure & real assets
6.6% 8.2% 8.2% 9.1%
Property 6.8% 8.7% 8.5% 7.5%
Liquid alternatives (Growth)
0.0% 0.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 2.6% 5.2% 0.0%
Credit income
5.1% 7.7% 7.6% 5.4%
Fixed income
20.2% 20.1% 20.1% 10.6%
Cash 45.7% 28.4% 8.2% 5.0%

Single asset class investment options (Investment Funds Class A & Class B)

Asset Class Australian equities International equities Fixed Interest Cash
Australian equities 100.0% 0.0% 0.0% 0.0%
International equities 0.0% 100.0% 0.0% 0.0%
Australian fixed income 0.0% 0.0% 100.0% 0.0%
International fixed income 0.0% 0.0% 0.0% 0.0%
Cash 0.0% 0.0% 0.0% 100.0%

Amounts may be adjusted for rounding purposes.

The actual asset allocations will vary and figures will be updated to reflect how each investment option is invested over time.

Each of the asset classes may include small cash balances for portfolio management purposes.