Strategic asset allocations and ranges
 

Each option is assigned a medium to longer term target asset allocation, known as the strategic asset allocation. We also establish asset allocation ranges which are the minimum and maximum amounts we can invest in each asset class.

The strategic asset allocation and asset allocation ranges^1 for each investment option are shown in the below tables.

Diversified investment options


Super and transition to retirement

Strategic asset allocations

Asset class High Growth Growth Diversified Socially Responsible Investment (SRI) Balanced Growth Conservative Growth
Australian equities 24% 19% 20% 14% 5%
International equities 41% 31% 33% 22% 8%
Private equity 8% 6% 6% 5% 0%
Infrastructure & real assets 9% 9% 9% 8% 6%
Property 7% 7% 7% 8% 6%
Liquid alternatives (Growth) 3% 3% 0% 0% 0%
Liquid alternatives (Defensive) 0% 0% 0% 4% 0%
Credit income 3% 5% 5% 10% 4%
Fixed income 0% 10% 10% 17% 25%
Cash 5% 10% 10% 12% 46%
Currency exposure^2 29% 22% 24% 16% 6%

Ranges

Asset class High Growth   Growth Diversified Socially Responsible Investment (SRI) Balanced Growth Conservative Growth
Australian equities 14% - 34% 9% - 29% 10% - 30% 4% - 24% 0% - 15%
International equities 31% - 51% 21% - 41% 23% - 43% 12% - 32% 0% - 18%
Private equity 0% - 28% 0% - 26% 0% - 26% 0% - 25% 0% - 20%
Infrastructure & real assets 0% - 29% 0% - 29% 0% - 29% 0% - 28% 0% - 26%
Property 0% - 27% 0% - 27% 0% - 27% 0% - 28% 0% - 26%
Liquid alternatives (Growth) 0% - 23% 0% - 23% 0% - 0% 0% - 0% 0% - 0%
Liquid alternatives (Defensive) 0% - 0% 0% - 0%
0% - 20% 0% - 24% 0% - 20%
Credit income 0% - 23% 0% - 25% 0% - 25% 0% - 30% 0% - 24%
Fixed income 0% - 10% 0% - 25% 0% - 25% 0% - 35% 0% - 50%
Cash 1% - 15% 1% - 45% 1% - 45% 1% - 60% 1% - 85%
Currency exposure^2 0% - 51% 0% - 41% 0% - 43% 0% - 32% 0% - 18%

Retirement income stream

Strategic asset allocations

Asset class High Growth Growth Diversified Socially Responsible Investment (SRI) Balanced Growth Conservative Growth
Australian equities 29% 23% 16% 16% 6%
International equities 40% 30% 22.5% 22.5% 7%
Private equity 4% 3% 2.5% 2.5% 0%
Infrastructure & real assets 9% 9% 8% 8% 6%
Property 7% 7% 8% 8% 6%
Liquid alternatives (Growth) 3% 3% 0% 0% 0%
Liquid alternatives (Defensive) 0% 0% 0% 4% 0%
Credit income 3% 5% 10% 10% 4%
Fixed income 0% 10% 19% 17% 25%
Cash 5% 10% 14% 12% 46%
Currency exposure^2 28% 21% 16% 16% 5%

Ranges

Asset class High Growth Growth Diversified Socially Responsible Investment (SRI) Balanced Growth Conservative Growth
Australian equities 19% - 39% 13% - 33% 6% - 26% 6% - 26% 0% - 16%
International equities 20% - 50% 20% - 40%    12% - 33% 12% - 33% 0% - 17%
Private equity 0% - 24% 0% - 23% 0% - 23% 0% - 23% 0% - 20%
Infrastructure & real assets 0% - 29% 0% - 29% 0% - 28% 0% - 28% 0% - 26%
Property 0% - 27% 0% - 27% 0% - 28% 0% - 28% 0% - 26%
Liquid alternatives (Growth) 0% - 23% 0% - 23% 0% - 0% 0% - 0% 0% - 0%
Liquid alternatives (Defensive) 0% - 0% 0% - 0% 0% - 20% 0% - 24% 0% - 20%
Credit income 0% - 23% 0% - 25% 0% - 30% 0% - 30% 0% - 24%
Fixed income 0% - 10% 0% - 25% 0% - 35% 0% - 35% 0% - 50%
Cash 1% - 15% 1% - 45% 1% - 60% 1% - 60% 1% - 85%
Currency exposure^2 0% - 50% 0% - 40% 0% - 33% 0% - 33% 0% - 17%

Single asset class investment options

Strategic asset allocations

Asset Class  Australian Equities Australian Equities Socially Responsible Investment (SRI) International Equities Property
Australian Fixed Interest
International Fixed Interest
Cash
Australian equities 100% 100% 0% 0% 0% 0% 0%
International equities 0% 0% 100% 0% 0% 0% 0%
Property 0% 0% 0% 100%^2 0% 0% 0%
Australian fixed income 0% 0% 0% 0% 100% 0% 0%
International fixed income 0% 0% 0% 0% 0% 100% 0%
Cash 0% 0% 0% 0% 0% 0% 100%
Currency exposure 0% 0% 100% 0% 0% 0% 0%

Ranges (if applicable)

Asset Class  Australian Equities Australian Equities Socially Responsible Investment (SRI) International Equities Property
Australian Fixed Interest
International Fixed Interest
Cash
Australian equities              
International equities              
Property              
Australian fixed income         80% - 100%    
International fixed income         0% - 20%    
Cash              
Currency exposure       0% - 5% 0% - 5% 0% - 5%  

For more information, including descriptions of the different asset classes, see the Member Booklet Supplement: Investments. If you are an income stream member, see the Member Booklet: Transition to retirement Income Stream (PDS) or the Member Booklet: Retirement Income Stream (PDS).

  1. Strategic asset allocations and ranges are current as at 1 October 2020.

  2. Note that the Property option is invested in global listed property securities and unlisted property investments, with the current target split being 65% listed property and 35% unlisted property investments.

Click here to view the actual asset allocations which reflect the current weighting to each asset class and may differ from the above.