MilitarySuper achieves strong returns for members in 2006/07
MilitarySuper has achieved strong returns for the financial year to 30 June 2007; achieving 16.3% net (ie after fees and taxes - 19.14% gross) in the growth (Default) option - in which over 90% of members moneys are invested - and 16.4% (19.37% gross) in the high growth option.
More importantly the Board is pleased to report that since the implementation of its revised investment strategy in 2003 the Fund has achieved strong returns in each of the subsequent four years; achieving average yearly returns over those four years in the Growth Option of 14.9% Net (17.3% Gross) and 16.9% Net (19.7% Gross) in the High Growth Option.
The latest “Selecting Super” report notes that default investment options across the industry averaged returns of 14.9% for the 2006/07 year.
| Option | Net % | Gross % |
|---|---|---|
| Cash | 5.22 | 6.46 |
| Conservative | 9.46 | 11.50 |
| Balanced | 13.48 | 16.06 |
| Growth | 16.28 | 19.14 |
| High Growth | 16.40 | 19.37 |
Daily unit prices are struck for each day of the year on the basis of the market value of listed investments on the previous day’s close of trading, and on the basis of the best available valuation data on non-listed investments. Provisions are also made for taxes, fees and expenses on the income derived from those investments on a daily basis.
At the end of a financial year Fund performance is calculated on the basis of “hard close” data which only becomes available some time after 30 June. Given this timing difference the unit price for each investment option declared for 30 June may vary from the investment performance of that option subsequently determined on the basis of fully audited accounting and taxation information.