AustralianSuper, the A$90 billion ($68.8 billion), Melbourne-based superannuation fund, reported Monday its default option posted a 10.9% return for the fiscal year ended June 30, after taxes and fees.
The latest gain marked the third consecutive year of double-digit returns for the default, or “balanced,” option, in which 80% of AustralianSuper’s more than 2 million members invest their retirement funds, a news release said.
The Australian dollar’s decline during the year, which lifts the value of the fund’s overseas investments, and positive returns from property, infrastructure, fixed income and equities contributed to the latest gains, said Mark Delaney, AustralianSuper’s deputy CEO and chief investment officer, in the news release.
Mr. Delaney also pointed to AustralianSuper’s “increased focus on active and internal management of assets” as contributing to the balanced fund’s 10.9% gain.
Stephen McMahon, a spokesman for the fund, said further details on AustralianSuper’s asset allocation and investment performance for the past year would be announced with the release of its annual report in August.