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See how our investment options are invested

Asset allocations as at 31 December 2023.

The asset allocations are published quarterly, as of the end of March, June, September, and December.

View asset allocation targets and ranges

Diversified investment options (Future Saver & Retirement Transition)

Core options

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Asset Class High Growth Balanced Conservative Balanced Conservative Defensive
Australian shares 26.6% 22.2% 15.2% 8.7% 5.1%
International shares
40.0% 33.3% 23.5% 13.4% 8.5%
Private equity
8.2% 6.2% 5.2% 3.3% 1.6%
Infrastructure
11.5% 11.4% 10.6% 10.6% 8.8%
Property
6.5% 6.6% 7.6% 7.6% 5.6%
Liquid alternatives (Growth)
1.0% 0.9% 1.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 0.0% 0.0% 0.0% 0.0%
Credit income
3.1% 5.0% 7.0% 7.0% 4.1%
Fixed income
0.0% 9.9% 17.1% 20.0% 20.0%
Cash
3.1% 4.5% 12.8% 29.4% 46.3%

Socially Conscious and Indexed options

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Asset Class High Growth Socially Conscious Balanced Socially Conscious  High Growth Indexed Balanced Indexed
Australian shares 26.5% 22.1% 35.0% 30.0%
International shares
40.0% 33.3% 53.0% 45.0%
Private equity
8.0% 6.0% 0.0% 0.0%
Infrastructure 11.0% 10.7% 0.0% 0.0%
Property
7.0% 6.8% 0.0% 0.0%
Liquid alternatives (Growth)
0.0% 0.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 0.0% 0.0% 0.0%
Credit income
3.0% 4.9% 0.0% 0.0%
Fixed income
0.0% 9.9% 7.0% 18.0%
Cash
4.5% 6.3% 5.0% 7.0%

Diversified investment options (Retirement Income)

Core options

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Asset Class High Growth Balanced Conservative Balanced Conservative Defensive
Australian shares 28.6% 23.6% 15.7% 9.1% 5.5%
International shares
37.9% 31.7% 21.5% 11.9%
7.9%
Private equity
7.9% 6.2% 5.2% 3.3% 1.6%
Infrastructure
10.9% 11.4% 10.6% 10.77% 8.8%
Property
6.3% 6.5% 7.6% 7.7% 5.7%
Liquid alternatives (Growth)
0.7% 0.9% 0.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 0.0% 3.8% 2.0% 0.0%
Credit income
2.9% 4.9% 7.0% 7.1% 4.1%
Fixed income
0.0% 9.9% 16.9% 20.1% 20.0%
Cash
4.8% 4.9% 11.7% 28.1% 46.4%

Socially Conscious and Indexed options

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Asset Class Conservative Balanced Socially Conscious Conservative Socially Conscious Conservative Balanced Indexed Conservative Indexed
Australian shares 16.5% 9.0% 24.5% 16.5%
International shares
21.6% 12.5% 32.5% 21.5%
Private equity
4.9% 3.0% 0.0% 0.0%
Infrastructure
9.5% 10.0% 0.0% 0.0%
Property
7.6% 8.0% 0.0% 0.0%
Liquid alternatives (Growth)
0.0% 0.0% 0.0% 0.0%
Liquid alternatives (Defensive)
0.0% 0.0% 0.0% 0.0%
Credit income
6.5% 7.0% 0.0% 0.0%
Fixed income
17.0% 20.1% 20.0% 20.0%
Cash
16.4% 30.4% 23.0% 42.0%

Single asset class investment options (All products)

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Asset Class Australian Shares International Shares Property Bonds Cash
Australian shares 100.0% 0.0% 0.0% 0.0% 0.0%
International shares
0.0% 100.0% 0.0% 0.0% 0.0%
Listed property 0.0% 0.0% 100.0% 0.0% 0.0%
Unlisted property
0.0% 0.0% 0.0% 0.0% 0.0%
Australian fixed income
0.0% 0.0% 0.0% 50.0% 0.0%
International fixed income
0.0% 0.0% 0.0% 50.0% 0.0%
Cash
0.0% 0.0% 0.0% 0.0% 100.0%

Amounts may be adjusted for rounding purposes.

The actual asset allocations will vary and figures will be updated to reflect how each investment option is invested over time.

Each of the asset classes may include small cash balances for portfolio management purposes.