Why does AustralianSuper disclose its holdings?
We understand that your super savings matter to you – so we want to make it easy for you to see what you’re invested in.
We also believe it’s important to be transparent with members. That’s why we’ve been publishing what we invest in since 2016.
How often is this information updated?
It’s updated twice a year, as at 30 June and 31 December. We aim to provide the updates within 90 days of those dates.
Why don’t you provide a more recent list of investments?
When working out what information to provide, we factored in a number of things including:
- members’ information needs
- what can be provided in a timely manner
- how to ensure that returns weren’t negatively impacted by revealing market sensitive information.
The current timing means we can provide comprehensive investment information while minimising the chance of a negative impact on returns.
We think future legislation will require super funds to disclose holdings as at 30 June and 31 December. In addition, the process of publishing portfolio holdings partially relies on data provided by third parties that we can only obtain periodically.
Why do some investments show as zero percent?
An investment or exposure listed as 0.00% has a value that's 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 of investment options, especially the single asset class DIY Mix options. In share portfolios, cash can be held where funds are being invested in, or sold out of, share markets over time. This ensures 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. This helps 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 aren't market listed assets and the values are market sensitive information. 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 information on them publically may cause members’ returns to be negatively impacted.
In addition, some of our private equity managers haven't provided us with their permission to disclose details of the investments they make on our behalf. They aren't legally required to do so but we're 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 that 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 aren't received in time to be included in this information. We're working on including more of them in future updates.
Some investments are in managed funds, that 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're unable to provide this information publically. We're 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. Choose the option/s you're invested in and browse the information. Currently it isn't possible 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 AustralianSuper invests in on their behalf rather than who's managing it. Additionally, in some cases, the same assets may be held by multiple managers and/or directly by AustralianSuper. This can make disclosure confusing. The current way we show information means 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.
Where can I find out more information about a particular investment?
In the first instance, we recommend you do an internet search using the investment name. For example our Indexed Diversified and Member Direct options have investments managed by Vanguard and other product providers. You can find additional information about their index funds and exchange traded funds (ETFs) on their website.
You can always contact us if you’re looking for more information.