Although the market is still worried about the Middle East conflict and the continued disturbance of high inflation, global stocks have surged, allowing the $4.4 trillion Australian pension industry to once again reap impressive annual results. According to estimates by research firm Suntewest, the median yield of balanced growth pension funds was 9.5% for the fiscal year ending June 30. Earnings were mainly contributed by overseas stocks, and almost all major asset classes recorded positive returns. Mano Mohan Kumar, head of pension investment at Chantewest, said in a statement: “Overseas stocks rose by 25.5% after hedging the exchange rate, supported by the AI sector and strong corporate profit performance. Even though the Australian dollar strengthened against most major currencies, unhedged global stocks still achieved 17% returns.”

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