Australia’s Biggest Pension Fund Posts Record Annual Return
Australia’s biggest pension fund notched a record return in fiscal 2021 as strong market performance in the wake of the pandemic lifted assets under management.
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AustralianSuper Pty.’s default investment option returned 20.43% in the 12 months ended June 30, the 12th consecutive year of gains, the fund said in a statement Monday. The Melbourne-based fund’s assets under management rose to A$225 billion ($169 billion) from A$180 billion a year ago as money keeps flowing into the country’s compulsory retirement savings system.
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“Yet again we have seen that markets recover after downturns, which reinforces the fact that maintaining long-term discipline increases the potential for long-term investment success,” Chief Investment Officer Mark Delaney said in the statement.
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