Strategic Asset Allocation Survey
We recently completed our update of strategic asset allocations for the growth options (61% to 80% growth assets) of over 50 major superannuation funds, and the results for June 2009 are summarised in the tables below.
Over the past year, there has been an increase in the allocation to alternative assets. In June 2008, the average exposure to alternatives across the industry was 11%, and in 12 months that has grown to 14%. Industry funds have made further moves to lower the dependence on shares while increasing their exposure to alternative assets to 19% (up from 17%). Over the same period, master trusts and consultants increased their average exposure marginally, from 8% to 10%.
The industry average exposure to unlisted assets is now 19% with industry funds again leading the way with an allocation of 28%. Master trusts and consultants generally have much lower exposures to unlisted assets, with an average of 9%.
| Average Strategic Asset Allocations at 30 June 2009 (%) |
| Asset Sector | Industry
Funds | Public Sector
Funds | Corporate
Funds | Master
Trusts | Consultants | Master Trusts
& Consultants | Industry
Average |
| Aust Shares | 30 | 26 | 30 | 33 | 32 | 33 | 31 |
| Int’l Shares | 24 | 29 | 27 | 27 | 27 | 27 | 26 |
| Aust Listed Property | 0 | 1 | 0 | 4 | 2 | 3 | 1 |
| Aust Unlisted Property | 5 | 11 | 7 | 1 | 2 | 1 | 4 |
| Global Property | 1 | 0 | 3 | 3 | 3 | 3 | 2 |
| Alternatives | 13 | 9 | 7 | 5 | 7 | 6 | 9 |
| Total Growth | 73 | 76 | 74 | 73 | 73 | 73 | 73 |
| Cash | 4 | 4 | 3 | 4 | 3 | 3 | 4 |
| Aust Bonds | 7 | 5 | 10 | 10 | 9 | 10 | 8 |
| Int’l Bonds | 6 | 9 | 10 | 10 | 10 | 10 | 8 |
| Aust Property | 4 | 0 | 0 | 0 | 0 | 0 | 2 |
| Alternatives | 6 | 6 | 3 | 3 | 5 | 4 | 5 |
| Total Defensive | 27 | 24 | 26 | 27 | 27 | 27 | 27 |
| TOTAL | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| Statistics | |
| Growth/defensive assets split | 73/27 | 76/24 | 74/26 | 73/27 | 73/27 | 73/27 | 73/27 |
| Aust/int’l share split | 30/24 | 26/29 | 30/27 | 33/27 | 32/27 | 33/27 | 31/26 |
| Aust/int’l property split | 9/1 | 12/0 | 7/3 | 5/3 | 4/3 | 4/3 | 7/2 |
| Unhedged/hedged int’l shares (%) | 15/9 | 12/17 | 15/12 | 20/7 | 17/10 | 18/9 | 16/10 |
| Unlisted assets (%) | 28 | 26 | 17 | 7 | 11 | 9 | 19 |
|
| Breakdown of Alternative Assets at 30 June 2009 (%) |
| Asset Sector | Industry
Funds | Public Sector
Funds | Corporate
Funds | Master
Trusts | Consultants | Master Trusts
& Consultants | Industry
Average |
| Private Equity | 4 | 6 | 1 | 1 | 1 | 1 | 2 |
| Infrastructure | 7 | 1 | 4 | 1 | 2 | 2 | 4 |
| Hedge Funds/Other | 8 | 8 | 5 | 6 | 9 | 7 | 8 |
| TOTAL | 19 | 15 | 10 | 8 | 12 | 10 | 14 |
| Breakdown of Unlisted Assets at 30 June 2009 (%) |
| Asset Sector | Industry
Funds | Public Sector
Funds | Corporate
Funds | Master
Trusts | Consultants | Master Trusts
& Consultants | Industry
Average |
| Property | 9 | 11 | 7 | 1 | 2 | 1 | 6 |
| Private Equity | 4 | 6 | 1 | 1 | 1 | 1 | 2 |
| Infrastructure | 7 | 1 | 4 | 0 | 0 | 0 | 3 |
| Hedge Funds/Other | 8 | 8 | 5 | 6 | 9 | 7 | 8 |
| TOTAL | 28 | 26 | 17 | 8 | 12 | 9 | 19 |
Disclaimer
© Chant West Pty Limited (ABN 75 077 595 316) 1997 - 2013. You may only use this document for your own personal, non-commercial use. This document may not be copied, reproduced, scanned or embodied in any other document or distributed to another party unless you have obtained the prior written consent of Chant West to do so.
The information above is based on data supplied by third parties. While such data is believed to be accurate, Chant West does not accept responsibility for any inaccuracy in such data. Past performance is not a reliable indicator of future performance. The products, reports and ratings do not contain all of the information that is required in order to evaluate the nominated service providers, and you are responsible for obtaining such further information.
This information does not constitute financial product advice. However, to the extent that this document may be considered to be general financial product advice then you acknowledge that you have been provided with a
Financial Services Guide and Chant West warns that: (a) Chant West has not considered any individual person’s objectives, financial situation or particular needs; (b) individuals need to consider whether the advice is appropriate in light of their goals, objectives and current situation; and (c) individuals should obtain a Product Disclosure Statement from the relevant fund provider before making any decision about whether to acquire a financial product from that fund provider.