Equity markets were mixed across advanced economies in June, as political uncertainty in Europe weighed on markets while equities in the US, Japan and Australia continued to rise higher.
Nonetheless, equities almost universally recorded strong overall returns for the 2023-24 financial year across developed markets. In the US, a 3.5% rise in June pushed the S&P 500 index to a 22.7% gain for 2023-24, with the tech-heavy NASDAQ Composite index recording a 28.6% gain for the same period. Elsewhere, Japan’s Nikkei 225 index rose 19.3% over 2023-24, the UK’s FTSE 100 gained 8.4% and in Australia the S&P/ASX 200 index advanced by 7.8%.
The Strategic Asset Allocation (SAA) provides guidance for the portfolio allocation over the medium to long term (10+ years) and is reviewed annually. The SAA for all investment options can be found on the following pages:
The actual asset allocations at any point in time may differ from their respective targets due to market movements, cash flows and other activities.
Actual asset allocations are regularly monitored by the investment team and rebalanced back towards target, or in line with our views on opportunities and risks.
See below for the Growth (MySuper) option actual allocation.
| Actual allocation 30/6/2024 | Growth (MySuper) |
|---|---|
| Australian shares | 23.98% |
| Global shares | 28.40% |
| Emerging market shares | 2.93% |
| Private equity | 2.36% |
| Alternatives* | 2.61% |
| Infrastructure | 13.29% |
| Property | 9.35% |
| Global credit | 6.55% |
| Australian fixed interest | 3.58% |
| Global fixed interest | 3.05% |
| Cash | 3.91% |
| Growth / defensive allocation split | 74.87% / 25.13% |
Note: Growth assets include Australian shares, global shares, emerging market shares, private equity, alternative growth, 50% of infrastructure, 50% of property and 50% of global credit. Defensive assets include cash, fixed interest, 50% of property, 50% of infrastructure and 50% of global credit.
* Prior to 30 June 2024 this asset class was known as Alternative Growth.
Figures are subject to rounding. Actual asset allocation is current as at 30 June 2024. Asset classes are the building blocks of our investment options. We allocate different proportions to each asset class with the aim of meeting each option’s investment risk and return objective. By investing across a range of asset types, the risk of loss is reduced through diversification. For more information see asset classes.
We periodically review our investment strategy and believe that the Growth (MySuper) option is well positioned for growth over the medium to long term, while maintaining some defensive exposure. Cbus’ Pre-mixed investment options are broadly diversified across asset classes.
Disclosure
The information is about Cbus. It doesn’t take into account your specific needs, so you should look to your own financial position, objectives and requirements before making any financial decisions. Read the Cbus Product Disclosure Statement and the Target Market Determination to decide whether Cbus is right for you, or contact us for a copy.
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