AustralianSuper, Australia's biggest superannuation fund, announced its investment portfolio as of the June 30 close of its latest fiscal year topped A$100 billion ($75.6 billion) for the first time.
In a news release Monday, Ian Silk, chief executive, attributed that “milestone” to a combination of strong investment returns and a focus on reducing costs for the fund's growing base of more than 2 million members.
With global markets becoming more volatile during the past fiscal year, the fund's balanced option – accounting for almost 75% of assets — posted investment gains of 4.54%, down from 10.86% the previous year.
With roughly A$91.32 billion in assets the year before, investment returns and net member contributions contributed 46% and 54% respectively to the roughly A$9 billion in gains that lifted the portfolio to A$100.25 billion as of the close of the latest fiscal year.
Spokesman Stephen McMahon said updated asset allocation figures for the June 30 portfolio will be released in a few months.
