fbpx

International

The Fund’s international investments include international cash, international term deposits, and international listed equities. The total international portfolio holding as at 31 December 2018 was approximately 13.7% of the Fund, a decline from the previous year. There was some translation loss against offshore cash and international equities due to the appreciation of Kina against AUD during the year but the underlying international equity values held in USD was preserved by the appreciation of that currency against AUD.

The Fund has an allocation to international assets of 25.0% as part of its SAA as discussed above. Within this allocation, the Fund has 10% of the SAA allocated to international bonds and 15.0% to international equities. Due to foreign exchange controls, the Fund has not been able to diversify further into international assets in
line with the Fund SAA.

The Fund altered its approach to international equity investment by the use of what is known as “low volatility” investing and selected 3 global managers to implement this approach in 2017. The international equity managers below were fully invested during the year. The international equities allocation provided relatively good returns for the Fund despite volatility in the global equity markets. Overall, the new funds performed according to their mandates of having volatility lower than the market, especially in falling markets.

Foreign exchange shortages, due to the controls imposed by BPNG, remained a constraint on the ability of the Fund to fully implement its offshore asset allocation in 2018.

International Listed Equities as at 31 December 2018

 

Listed Equities
Industry/Sector
iShare Wholesale Indexed International Equity FundGlobal Fund ex-Australian
Acadian Global Managed Volatility Equity FundGlobal Managed Volatility Funds
Lazard Global Managed Volatility Equity FundGlobal Managed Volatility Funds
Robeco Global DM Conservative Equity FundsGlobal Managed Volatility Fund
Kina Securities LimitedBanking/Finance

Source: KFM, Blackrock, Acadian, Lazard, Robeco and Kina Securities Limited

Members trust voluntary savings to Nambawan Super

Members trust voluntary savings to Nambawan Super

Nambawan Super members’ have saved more than K170 million through voluntary contributions. Nambawan Super Chairman Anthony Smaré revealed this during the announcement of its 2019 financial results stating that over the last 7 years, as the Fund improved its management...

Members benefiting from housing advance

Members benefiting from housing advance

Nambawan Super has helped more than 14,000 members with Housing Advances totalling more than K200 million since 2012. Chairman of Nambawan Super Board of Trustees, Mr Anthony Smaré revealed this during the 2019 financial performance and interest rate announcement,...