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Investment Performance
The Fund's single investment portfolio is actively managed by Alexander Forbes Investments (now Alexforbes). Returns are shown for the current financial year and historically since inception in 1994.
Monthly Returns — Financial Year 2025/26
The table below shows the Fund's net-of-fee monthly returns for the current financial year (April 2025 – March 2026).
| Month | Return (%) |
|---|---|
| April 2025 | +2.050% |
| May 2025 | +2.579% |
| June 2025 | +2.542% |
| July 2025 | +1.525% |
| August 2025 | +0.972% |
| September 2025 | +2.290% |
| October 2025 | +1.827% |
| November 2025 | +1.587% |
| December 2025 | +1.892% |
| January 2026 | +1.294% |
| February 2026 | +2.131% |
| March 2026 | -4.401% |
| Year to Date | +17.331% |
Historical Annual Returns — Since Inception (1994)
The table below shows the Fund's annual return for each financial year since its inception in 1994. Returns are expressed as an effective annual rate.
| Financial Year | Annual Return (%) |
|---|---|
| 1994/95 | 14.2% |
| 1995/96 | 16.1% |
| 1996/97 | 15.7% |
| 1997/98 | 12.6% |
| 1998/99 | 12.1% |
| 1999/00 | 18.3% |
| 2000/01 | 14.9% |
| 2001/02 | 11.8% |
| 2002/03 | 10.5% |
| 2003/04 | 20.4% |
| 2004/05 | 18.7% |
| 2005/06 | 24.3% |
| 2006/07 | 19.1% |
| 2007/08 | 8.8% |
| 2008/09 | -5.6% |
| 2009/10 | 16.2% |
| 2010/11 | 14.9% |
| 2011/12 | 10.7% |
| 2012/13 | 16.8% |
| 2013/14 | 21.4% |
| 2014/15 | 11.2% |
| 2015/16 | 5.1% |
| 2016/17 | 9.8% |
| 2017/18 | 9.5% |
| 2018/19 | 3.9% |
| 2019/20 | -5.3% |
| 2020/21 | 22.8% |
| 2021/22 | 10.1% |
| 2022/23 | 9.4% |
| 2023/24 | 14.6% |
| 2024/25 | 13.9% |
| 2025/26 | 17.3% |
Important Notice
Past performance is not a reliable indicator of future performance. Returns are net of management fees and expenses. The Fund is a defined contribution arrangement — your fund credit will fluctuate with investment performance. Members are encouraged to seek independent financial advice.