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.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
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