What changes have we made to our funds?
At ASB, a core part of what we do is regularly review how our investments are performing, assess where we think the opportunities and risks are likely to be, look forward, and then consider if any changes need to be made.
This is part of the key decisions that ASB partner with BlackRock* on. Together we focus on the most important things we believe influence your returns: asset allocation (the percentage of each asset in your fund) and currency decisions.
Out of this, ASB investors will see the following changes across the portfolio of their relevant ASB KiwiSaver Scheme, and ASB Investment Funds:
- A slight reduction in equity assets (shares) overall - a move to a more 'neutral stance' across the relevant funds**.
- Within equities, a reduced exposure to Australasian equities and a relative increase in exposure to international equities including:
• Reduced exposure to global investment grade credit (international fixed interest); and
• Modest increase in foreign currency exposure.
- Lastly, the inclusion of new asset classes - inflation linked bonds (New Zealand and international fixed interest), and gold (commodities).