POWERED BY MOMENTUM MEDIA
ESSSuper expands investment menu
ESSSuper has expanded its investment menu for members, unveiling a new Balanced Growth Managed investment option.
The option, made available from 23 July 2024, is open to all members with an accumulation plan, beneficiary account, or income stream.
It includes a range of higher-risk, higher-return asset types along with a range of lower-risk defensive assets to support stability.
Around 71 per cent of the option targets growth assets and 29 per cent targets defensive assets.
Unpacking these allocations, the $36 billion fund indicated around a quarter (31.5 per cent) is in international shares while 26 per cent is in Australian shares.
Meanwhile, 8.5 per cent is allocated to credit, 8 per cent to cash, 8 per cent to infrastructure, and 6.5 per cent to property.
Additionally, 5.5 per cent is earmarked for alternative growth and 6 per cent is allocated to defensive fixed income.
The Balanced Growth Managed option will be actively managed, ESSSuper said, which “allows us to make strategic adjustments and timely responses to market changes”.
In the last financial year, ESSSuper’s default Balanced option delivered a return of 7.12 per cent.
The fund’s Growth option and Balanced Growth option delivered 9.92 per cent and 11.08 per cent, respectively.
Last month, ESSSuper also announced it is set to welcome new additions to its executive leadership team in the new financial year.
Its new chief financial officer Therese Kenny makes the move from commercial real estate investment manager MaxCap and will join in August.
Meanwhile, Stuart Wilkinson will join as its first chief member officer in October.
AUTHOR
Rhea Nath
Rhea L Nath is a journalist on Super Review and InvestorDaily, with a focus on funds management, superannuation, and institutional investment. Previously, she covered small business and entrepreneurship news at Dynamic Business and multicultural issues at Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.
Recommended for you
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
