Suitability and risk

Suits members who want to invest in a specific asset class and are less comfortable with large fluctuations in the value of their investments.
4 years
Suggested minimum investment time frame
High
Summary risk level
Sector
Option type
$78.0 million

Option size1

As at 30 November 2021

Expected frequency of negative annual return
4 to less than 6 in 20 years
Total investment fees and costs and transaction costs (%)
Super: 0.34% | Pension: 0.27% 

Objective and performance

The Diversified Credit Income investment option invests in a range of global, Australian and New Zealand corporate bonds with some flexibility to consider allocations to other securities (including but not limited to) hybrids, emerging market debt, residential mortgage-backed securities, commercial mortgage-backed securities, cash (including short dated government securities) and municipal bonds when appropriate. Although unlikely, equity holdings may arise in the event of a default, restructure or conversion of an existing credit security.

Please refer to the PDS for the most up to date investment returns objective information.

Objective

To achieve returns that exceed the RBA cash rate (before fees and taxes) by 1% over 4 years.2

Performance against objective

2
% p.a. over 4 years
As at 30 Sep 2021
RBA + 1% Diversified Credit Income performance Outperformance
1.9 1.8 -0.1
Performance objectives are not promises or predictions of any particular rate of return.

Performance against peers

2
Compare performance against the median performance of the top funds as identified by SuperRatings.2
% p.a.
As at 30 Nov 2021
Timeframe Diversified Credit Income performance SuperRatings median performance Outperformance
1 month -0.68 - -
3 months -0.57 - -
Financial year to date -0.89 - -
1 year 0.26 - -
3 years 1.77 - -
5 years 1.92 - -
7 years 2.11 - -
10 years - - -
Periods less than a year are not annualised. Some performance data are not yet available for this option.

Diversified Credit Income option performance ($)

2
As at 18 Jan 2022

Objective

To achieve returns that exceed the RBA cash rate (before fees and taxes) by 1% over 4 years.2

Performance against objective

2
% p.a. over 4 years
As at 30 Sep 2021
RBA + 1% Diversified Credit Income performance Outperformance
1.9 2.2 0.3
Performance objectives are not promises or predictions of any particular rate of return.

Performance against peers

2
Compare performance against the median performance of the top funds as identified by SuperRatings.2
% p.a.
As at 30 Nov 2021
Timeframe Diversified Credit Income performance SuperRatings median performance Outperformance
1 month -0.77 - -
3 months -0.63 - -
Financial year to date -0.97 - -
1 year 0.44 - -
3 years 2.13 - -
5 years 2.35 - -
7 years 2.58 - -
10 years - - -
Periods less than a year are not annualised. Some performance data are not yet available for this option.

Diversified Credit Income option performance ($)

2
As at 18 Jan 2022

Allocations

Strategic asset allocation

3
As at 01 November 2021
Asset class Allocation
Global Credit
65.0%
Australian & New Zealand Credit
35.0%
Global High Yield
0.0%
Australian Shares
0.0%
International Shares
0.0%

Major holdings

4

By value (descending order) as at 30 Nov 2021

5
  • National Australia Bank - Capital Notes
  • Citigroup Inc 11/2032
  • Nationwide Building Society 08/2024
  • Kiwibank Ltd 10/2027
  • Auckland International Airport Ltd 09/2027
  • GPT Wholesale Shopping Centre Fund 09/2024
  • Ausgrid Finance Pty Ltd 10/2024
  • Tidelands Bank 06/2025
  • Danske Bank AS 02/2030
  • Spark Finance Ltd 10/2027
  • Public Service Electric & Gas Co 08/2024
  • Bank of New York Mellon Corp/The 05/2024
  • NTT Finance Corp 03/2028
  • Skandinaviska Enskilda Banken AB 11/2031
  • Barclays PLC 04/2025
  • Swedbank AB 01/2028
  • US Bancorp 01/2024
  • Entergy Louisiana LLC 09/2023
  • New Terminal Financing Co 07/2024
  • Molson Coors Brewing Co 07/2024
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