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FUND DETAILS     USI: NES0100AU     ABN: 72 229 227 691     ADDITIONAL INFORMATION

Quarterly Investment Update – 31 March 2024

2 May 2024

NESS Quarterly Investment Update – 31 March 2024

NESS Super Continues to provide solid investment performance against benchmarks.

All NESS Super options had positive returns for the March quarter with the positive share market returns reacting positively to the outlook.

Choice investment option performance as at 31 March 2024

Investment Option Name (Accumulation)3 Month (%)FYTD (%)3 Year (%pa)5 Year (%pa)10 Year (%pa)
High Growth6.2411.148.238.768.80
Stable2.385.583.183.874.48
Australian Shares4.7611.969.168.878.25
Overseas Shares10.8715.569.4910.5910.59
Property9.1119.266.704.127.47
Cash0.882.701.631.281.70

 

NESS MySuper option return is +4.8% for the quarter ending 31 March 2024 in which most members are invested.

MySuper investment option performance as at 31 March 2024

Investment Option Name3 Month (%)FYTD (%)3 Year (%pa)5 Year (%pa)10 Year (%pa)
NESS MySuper4.818.866.586.937.06

 

What has happened this quarter?

Share markets posted strong results in the March 2024 quarter. Australian shares returned +5.4% while overseas shares returned 14%. Share market returns built on prior quarter gains from continued economic strength, moderating inflation, and a decent earnings season.

Fixed income and cash both returned approximately 1% for the quarter as investors weigh probability of rate cuts in 2024.

The MySuper accumulation returned an +8.9% for the financial year to date (31 March 2024) and all other Options have returned positive year to date results as well.

The NESS MySuper product remains balanced and diversified to manage risk and performance in a variety of economic environments, providing our members with peace of mind for their retirement.

Near-term outlook

Although inflation is moderating, it remains above central bank targets. Targets for rate cuts have been pushed back and possible rate rises are back on the table. This should temper market gains for the remainder of the financial year.  Recession risk remains limited in the near-term. However, high inflation, reduced consumer spending, geopolitical concerns, and an upcoming election in the U.S. have potential to introduce some volatility in the intermediate term.

Investment option performance

NESS Super has a strong history as a top performing super fund. The NESS MySuper option ranks in the 2nd quartile in Super Ratings survey over the 3, 5, and 10-years periods.

Pension investment option performance as at 31 March 2024

Investment Option Name3 Month (%)FYTD (%)3 Year (%pa)5 Year (%pa)10 Year (%pa)
NESS MyPension Balanced15.5510.207.427.407.31
High Growth Pension27.1012.739.229.449.26
Stable Pension32.776.513.484.174.51
Australian Shares Pension45.1313.759.95N/AN/A
Overseas Shares Pension412.1417.5811.72N/AN/A
Property Pension410.2132.098.03N/AN/A
Cash Pension1.023.171.891.511.97

 

Past performance is not a guarantee of future performance. Super member investment returns, and Account Based Pension (ABP) investment returns differ as Account Based Pension investment returns are tax free.

  1. Prior to 1 February 2021, the MyPension Balanced investment option was the Moderate investment option.
  2. Prior to 1 February 2021, the High Growth investment option was the Aggressive investment option.
  3. Prior to 1 February 2021, the Stable investment option was the Conservative investment option.
  4. New investment options introduced on 1 February 2021.

 

 

Things you should know

This publication has been issued by NESS Super Pty Ltd ABN 28 003 156 812 AFSL 238945 (the Trustee), as trustee of NESS Super ABN 72 229 227 691 (The Fund).

Investment returns are not guaranteed. Past performance does not guarantee future returns.

The information contained in this communication is current at the time of its publication. However, some information may change over time. The content is for general information only and does not constitute personal advice. We recommend that you consult with a suitably qualified person before making any financial decisions. Before deciding whether to acquire or hold a product, consider if it is appropriate for you. For more information on the Fund visit our website (nesssuper.com.au) to view our Financial Services Guide (FSG), the relevant Product Disclosure Statement (PDS) and the Target Market Determination (TMD).

 

 

 

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