Where is your money invested?
Your Fund's money works in three broad ways — stability, income and growth — at home and overseas.
Here is the mix at 30 June 2026. Percentages are rounded to the nearest whole point.
Keeps the Fund liquid, pays benefits and earns steady interest. Domestic and international cash, term deposits and government securities.
Generates regular interest and rent. Loans, private debt, domestic property and international fixed income.
Builds long-term value that can outpace inflation, with bigger ups and downs. Domestic equity in businesses the Fund owns or part-owns, international equities and listed infrastructure.
Every asset class the Fund holds, its current share of the portfolio, and the long-term target set by the Strategic Asset Allocation.
| Role | Asset class | Now | Target |
|---|---|---|---|
Stability | Domestic cash and term deposits | 18% | 10% |
Stability | Government securities | 14% | 10% |
Stability | International cash | 3% | 0% |
Income | Loans and private debt | 2% | 10% |
Income | Domestic property | 14% | 20% |
Income | International fixed income | 1% | 5% |
Growth | Domestic equity (businesses) | 39% | 25% |
Growth | International equities | 8% | 15% |
Growth | Listed infrastructure | 0% | 5% |
