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Important updates

MySuper Asset Allocation changes

The information below is relevant for members in the following products:

  • MLC MasterKey Business Super
  • MLC MasterKey Personal Super

We’ve made changes to the strategic asset allocations for MySuper. Strategic asset allocations provide an indication of the proportion of an investment option invested in each asset class.

There are many ways of grouping the numerous assets that MySuper invests in. We’ve changed the way we group assets into asset classes to align with a new asset allocation reporting standard from the Australian Prudential Regulation Authority (APRA). These changes are expected to make it easier for you to compare super fund asset allocations.

The changes include:

  • There are now two fixed income asset classes: Fixed income - diversified and Fixed income - credit. The credit asset class includes fixed income securities that generally have higher credit risk or default risk than those in Fixed income - diversified. Higher credit risk securities generally have higher potential returns to compensate investors for their higher risk.
  • We have a single-asset class for Alternatives and other. It was previously seperated into Defensive alternatives and other and Growth alternatives and other.
  • We have a single-asset class for Global shares. We no longer detail the split between Australian dollar hedged and unhedged.
  • The percentage of the portfolio invested in each asset class has changed where assets have been moved between asset classes to align with APRA’s asset allocation reporting standard.

There are no changes to the assets invested in or the way MySuper is managed as a result of the above. The strategic asset allocations are now displayed as shown below.

For more information about MySuper and other investment options available in MLC MasterKey Business Super and MLC MasterKey Personal Super, please read the Investment Menu.

Asset class
MySuper Growth Portfolio (%)
MySuper Conservative Growth Portfolio (%)
Cash 5 10
Fixed income - diversified 6 30
Fixed income - credit 11 10
Alternatives and other 5 4
Infrastructure 6 3
Property 7 5
Global shares 29 17
Australian shares 26 17
Private equity 5 4
Growth assets 79 52
Growth asset range 65 - 95 35 - 65
Defensive assets 21 48
Defensive asset range 5 - 35 35 - 65

 

MySuper provides a mix of growth and defensive assets that change depending on your age. MySuper’s growth and defensive mix at different ages from 1 October 2021 is shown in the table below. For more information about MySuper and other investment options please read the Investment Menu.

 
Growth (%)
Defensive (%)
Under age 55 79 21
At age 55 79 21
At age 56 78 22
At age 57 77 23
At age 58 76 24
At age 59 75 25
At age 60 75 25
At age 61 74 26
At age 62 73 27
At age 63 71 29
At age 64 69 31
Age 65 and over 66 34