Global stock markets rise, Australian pension fund annual returns reach 9.5%

Glonghui, July 21 – Despite ongoing concerns over Middle East conflicts and persistent high inflation, the global stock market surge has once again delivered outstanding annual performance to Australia’s pension industry, which manages assets worth 4.4 trillion Australian dollars (equivalent to $3.1 trillion). According to data estimated by research firm ChantWest, as of the financial year ending June 30, the median return for balanced growth pension funds reached 9.5%. Returns were mainly driven by overseas equities, with nearly all major asset classes recording positive gains. Mano Mohankumar, pension investment director at ChantWest, stated in a release: “Ongoing enthusiasm for the artificial intelligence sector and strong corporate earnings propelled unhedged overseas equities to a 25.5% gain after currency adjustment. Even though the Australian dollar strengthened against most major currencies, unhedged global equities still returned 17%.”