Why does AustralianSuper disclose its holdings?
AustralianSuper understands that your savings matter to you so we wanted to make it easy to see what you’re invested in.
It is anticipated that all super funds will be required to disclose their portfolio holdings in 2019. We believe it’s important to be transparent with members, so we decided to publish this information earlier.
How often is this information updated?
The information will be updated as at 30 June and 31 December each year. The updates will be provided within 90 days of these dates.
Why don’t you provide a more recent list of investments?
When determining what information to provide we took into consideration members’ information needs, what can be provided in a timely manner and how to ensure that returns weren’t negatively impacted by revealing market sensitive information. This timing allows us to provide comprehensive investment information while minimising the chance of a negative impact on returns.
We think that the legislation will require super funds to disclose holdings as at 30 June and 31 December. The process of publishing portfolio holdings partially relies on the provision of data from 3rd parties which we can only obtain periodically.
Why do some investments show as zero per cent?
An investment or exposure listed as 0.00% has a value that is less than 0.01% of the investment option.
Why do some investments show as zero dollars?
A zero dollar amount is typically due to the finalisation of a transaction where the investment has been sold but the final step of removing them from the list hasn’t occurred by the end of the period.
Why is there ‘cash’ listed within non-cash asset classes?
Some investment portfolios have an allocation to cash to cover long derivative positions or changes in investment strategy.
Cash can also be used to fund any switching in or out investment options, especially the single sector options. In share portfolios cash can be held where funds are being invested in or sold out of share markets over time to ensure we don’t put through large transactions in a short timeframe that could impact the market.
In listed asset portfolios, derivatives such as futures are used to ensure any cash allocation is covered so the portfolio gets the same returns it would from being fully invested.
Why are there no specific values against property and infrastructure?
We’ve included a value range rather than a specific value for property and infrastructure. These are not market listed assets and the values are market sensitive information, so detailing them may mean we don’t get as good a return as possible when we make investment decisions about them.
Why is there less information on private equity investments?
These investments are privately owned, they’re not market listed and the information and values are market sensitive. Revealing them may cause members’ returns to be negatively impacted.
Some of AustralianSuper’s private equity managers have not provided us with their permission to disclose details of the investments they make on our behalf and are not legally required to do so. AustralianSuper is continuing to work to increase the amount of information available.
Why are there negative values against some investments?
Negative values may appear next to derivative exposures which are used for hedging and other purposes. You can find out more about how we use derivatives in our annual report.
Why are there some investments with no values?
In some instances the valuations are not received in time to be included in this information. We are working on including more of them in future updates.
Some investments are in managed funds, which pool together investor’s money and buy a range of assets. Due to the complexity of these arrangements and, sometimes, confidentiality agreements in place, we are unable to provide this information publically. We are working with managers to increase the information we provide to members in future updates.
How can I see which investments I’m invested in personally?
The information is arranged by investment option so choose the option/s you are invested in and browse the information. Currently there is no option to personalise the information to individual member accounts.
Why are there derivatives in share and fixed interest allocations? What are derivatives/futures?
Derivatives are used as an alternative way to gain exposure to certain assets or for hedging purposes among other reasons. Find out more in our annual report.
Why aren’t you showing the names of the investment managers next to their holdings?
The main focus of providing this information is so members can see what the Fund invests in on their behalf rather than who is managing it. Additionally, in some cases, the same assets may be held by multiple managers and/or directly by AustralianSuper making disclosure in some cases confusing. This way members can see their total exposure to each investment.
You can view a list of fund managers we use at the Fund level in our annual report.