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VFMC invests $72.1bn in funds for 31 clients across the insurance, superannuation, health, arts, education and services agencies of Victoria.
We build investment portfolios to achieve each of our clients’ long term investment objectives within acceptable risk tolerances. We aim to add value for our clients by outperforming the relevant market benchmark in each asset class and in aggregate.
VFMC Investment Performance 30 June 2022
VFMC aims to achieve its clients’ investment objectives by outperforming the relevant market benchmark in each asset class and in aggregate. The benchmark for each asset class is set out in the table below.
Asset Class | Benchmark |
---|---|
Australian Equities | S&P / ASX 300 Accumulation Index |
International Equities | 66% MSCI World (Net divs reinvested) in AUD
17% MSCI Emerging Markets Index (Net divs reinvested) in AUD 17% MSCI World Minimum Volatility (USD) Index (Net dividends reinvested) in AUD |
Infrastructure | 75% CPI + 4.5% p.a.
25% MSCI Australia Quarterly Private Infrastructure Fund Index (Unfrozen) |
Property | 50% CPI + 4% p.a.
50% MSCI/Mercer Australia Core Wholesale Monthly PFI (Net) Index |
Hedge Funds | 50% Bloomberg AusBond Bank Bill Index + 3% p.a.
50% Hedge Funds Research Inc. (HRFI) Fund of Fund Diversified Index (AUD Hedged) |
Private Credit | 50% Bloomberg AusBond Bank Bill Index + 3% p.a.
25% S&P/LSTA Leveraged Loan Index (AUD Hedged) 12.5% HFRI ED – Distressed Restructuring Index (AUD Hedged) 12.5 % Merrill Lynch High Yield Master II (AUD Hedged) |
Emerging Market Debt | 50% JP Morgan EMBI Global Diversified (AUD Hedged)
50% JP Morgan GBI EM Global Diversified (AUD Unhedged) |
Inflation Linked Bonds | Bloomberg AusBond Government Inflation Linked 0+Yr Index |
Australian Bonds | Bloomberg AusBond Composite Bond 0+ Yr Index |
US Bonds | Bloomberg U.S. Treasury Hedged AUD Index |
Cash | Bloomberg AusBond Bank Bill Index |
Other | Bloomberg AusBond Bank Bill Index + 3% p.a. |
To invest with VFMC, clients must be a Public Authority as defined under the Victorian Funds Management Corporation Act 1994.
VFMC managed investments of $72.1 billion at 30 June 2022 for 31 Victorian public authorities and related organisations.
Assets Managed | $ (bn) |
---|---|
Superannuation | 26.1 |
Insurance | 40.1 |
Other clients | 5.8 |
Total | 72.1* |
* Data may not sum due to rounding
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