VFMC invests over $80bn 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 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 ASX300 Accumulation Index |
| International Equities |
66% MSCI World (Net dividends reinvested) in AUD |
| Infrastructure |
75% CPI + 4.5% p.a. |
| Property |
50% CPI + 4% p.a. |
| Hedge Funds |
50% Bloomberg AusBond Bank Bill Index + 3% p.a. |
| Private Credit |
50% Bloomberg AusBond Bank Bill Index + 3% p.a. |
| Australian Credit | Bloomberg AusBond Bank Bill Index |
| Emerging Market Debt |
50% JP Morgan EMBI Global Diversified (AUD Hedged) |
| Inflation Linked Bonds | Bloomberg AusBond Government Inflation Linked Index 0+ Yr Index |
| Australian Bonds | Bloomberg AusBond 0+ Yr Composite Index |
| US Bonds | Bloomberg Barclays US Treasury Index (AUD Hedged) |
| Enhanced Income | Bloomberg AusBond Bank Bill Index |
| Cash | Bloomberg AusBond Bank Bill Index |
| Other Strategies | 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 $85.7 billion at 31 December 2023 for 31 Victorian public authorities and related organisations.
| Assets Managed | $ (bn) |
|---|---|
| Superannuation | 27.0 |
| Insurance | 46.8 |
| Other clients | 11.9 |
| Total | 85.7* |
* Data may not sum due to rounding
