AUSTRALASIA - The median Australian superannuation growth fund was up 20.4% in the year ending February while the New Zealand Superannuation fund was up 17.4% from the start of its fiscal year in July.
In February alone, the median Australian growth fund returned 0.9%, mainly because of a 2% surge in Australian equities, according to data by Chant West. International equities also helped with unhedged returns of 0.6%, while Australian and global real estate investment trusts were up 1.4% and 3.3% respectively.
Growth funds a invest 61% to 80% in growth assets and are the default fund for most superannuation fund members.
Meanwhile, the NZ$15.9bn (US$11.4bn) New Zealand Superannuation Fund said it returned 1.88% in February and 6.04% since inception in September 2003.
The fund invests 43% in international equity, 16.7% in international fixed income, 7.5% in timber, 7.3% in global listed property, 7% in domestic equity, 6.5% in infrastructure and 5.3% in commodities.
It also invests 3.5% in emerging markets, 1.7% in New Zealand property, 1.2% each in private equity and domestic debt, and the rest in other private markets.
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