The first quarter of 2021 saw the average global equity-focused superannuation funds beat out returns of its Australian equity and Asia Pacific ex Japan equity counterparts, according to data.
FE Analytics data found the global equity super sector average return was 6.07% over the three months to 31 March, 2021.
This was compared to 4.15% from Australian equity super funds and 3.87% from Asia Pacific ex Japan equity super funds.
The top performing global equity super fund was CFS FC PSup-Acadian Geared Global Equity at 18.47%.
This was followed by CFS FC W PSup-Acadian W Geared Global Equity (18.45%), ANZ ASA Optimix Global Smaller Companies (15.1%), OnePath OA Frontier TTR-OptiMix Global Smaller Companies Share (15.06%), and OnePath OA Frontier PS-OptiMix Global Smaller Companies Shares (15.05%).
Returns of Asia Pacific ex Japan, Global, and Australian equity super fund sectors during Q1 2021
Source: FE Analytics
The CFS Acadian Geared Global Equity fund had its largest geographic allocation towards North America at 62.33%, followed by Europe at 23.28%, Asia at 7.95%, Japan at 4.56%, and the Middle East at 1.43%.
Four out of its five top holdings, as at 30 November 2020, were tech firms Apple, Microsoft, Amazon, Alphabet, and rounding the five was Procter and Gamble.
However, over the longer term it was the Asia Pacific ex Japan focused super funds that took the lead with the sector average returning 77.9% over the five years to 31 March, 2021.
This was followed by global equity focused super funds at 69.9%, and Australian equity focused super funds at 52%.
Returns of Asia Pacific ex Japan, Global, and Australian equity super fund sectors over the five years to 30 March 2020
Source: FE Analytics
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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