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
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A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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