For the financial year to 30 September 2024 our Balanced Growth Super option returned 3.43% and our Balanced Growth Income Account option returned 4.35%^. Over a longer 12 month period these options have delivered strong returns of 11.78% and 13.41% respectively^.
During the first quarter global shares experienced bouts of volatility. In early August we saw a sharp downturn as investors became nervous about the market’s enthusiasm for artificial intelligence. Then in September there were record highs after the US Federal Reserve announced a larger than usual 0.50% rate reduction.
Emerging markets outperformed developed markets as China experienced strong gains in response to their government launching a substantial stimulus program. The wide ranging stimulus measures reflected a sense of urgency to stabilise the country’s economic growth and support its property and equity markets.
Overall, across the September quarter global shares rose 6.4% and emerging markets gained 8.7% (in USD)*. The Australian market rose 7.8%# in the quarter with many shares, especially those related to mining and materials, benefiting from China’s stimulus package.
In contrast to the Federal Reserve and other global central banks, that are lowering interest rates, the Reserve Bank of Australia once again held interest rates steady at its September meeting but somewhat softened its message, stating that it had not considered a rate hike.
To see our latest investment returns, visit our monthly investment performance page.
