We invest in a diverse portfolio of assets across our options. If you’d like to explore our holdings in detail, you’ve come to the right place.
On 11 November 2021, the Government introduced Portfolio Holdings Disclosure regulations. These regulations require super funds to disclose information about their investments. The regulations prescribe what’s to be disclosed in each table and how it must be disclosed.
Our Portfolio Holdings Disclosure will be updated on our website within 90 days of 30 June and 31 December each year.
Portfolio Holdings Disclosure is designed to provide additional transparency and further assist Spirit Super’s members in making informed investment choices for their super.
Comma-separated value files (.CSV) are available below.
A derivative is a financial contract between two or more parties whose value is based on an agreed-upon underlying asset (like a security) or set of assets (like an index).
Derivatives are used to reduce risk or gain exposure to other types of investments. We allow some of our investment managers to use derivatives such as futures and options to manage risk and increase returns.
There are risks associated with derivatives including potential illiquidity, its value failing to move in line with the value of the underlying assets, the trustee being unable to meet payment obligations and counterparty risk.
Our trustee aims to keep these risks to a minimum by monitoring its exposure to derivative contracts and entering into derivative contracts with reputable counterparties. We don’t use derivatives to leverage investment exposure.
A fund manager is responsible for implementing a fund's investment strategy and managing its trading activities by analysing potential investment opportunities and building a portfolio.
Fund managers typically specialise in a segment of the market (for example, Australia small capitalisation shares or global debt securities), so we allocate across a range of specialist managers.
Weighting means the value, shown as a percentage, of each asset in the total investment option.
Weightings for each asset (or investment item) are calculated as the value of that investment item divided by the total value of all investment items held by the investment option.
For example, if the Balanced (MySuper) option had a total asset pool of $1,000,000 and there was $100,000 invested in equities, then the weight of equities in this portfolio would be 10%.
This relates to assets directly invested and/or held by Spirit Super, in other words, assets that aren’t managed through an external investment manager.
A pooled superannuation trust (PST) is a resident unit trust regulated by the Australian Prudential Regulation Authority (APRA). A PST is used for investing assets of a number of super funds or approved deposit funds, other PSTs and certain other specified entities. The disclosure’s format (including terminology) is outlined in the Portfolio Holdings Disclosure regulations, including the titles and abbreviations.
The asset classes prescribed in the Portfolio Holdings Disclosure regulations differ from how we usually report assets to members and regulators. Assets under listed infrastructure, for example, are investments akin to infrastructure bought and sold on stock exchanges.
In our member communications (our website, Member guides, Investment guide and Annual Report), we don’t separate these from global and Australian shares. In the context of Portfolio Holdings Disclosure, the regulations require that listed infrastructure be split from shares.
Responsible investment is a crucial part of our investment strategy and is critical in delivering long-term sustainable returns on your super.
f you’re concerned about the ethical, social and environmental impacts of our investments, information is available on our Environmental, social and governance (ESG) page or contact us for more information.
You can filter the Portfolio Holdings Disclosure to view the investment holdings for each of our investment options. You can change your investment options anytime to suit your investment goals and needs. To change your investment options:
The disclosure document is updated every six months, in line with Portfolio Holdings Disclosure regulations.
The time between disclosures allows us to provide comprehensive investment information while minimising the chance of a negative impact on returns by revealing market-sensitive information.
We also rely on data provided by third parties that we can only obtain periodically.
The Portfolio Holdings Disclosure rules don’t require the disclosure of individual asset valuations for unlisted assets. Instead, it requires the disclosure of the entire value of the portfolio of assets within each asset class. We conform with our regulatory responsibilities because we believe that additional disclosure isn’t in members' best interest.
Ensuring the value of an asset remains confidential is integral to our purpose of helping members achieve their best financial position in retirement. For us to sell a property or infrastructure asset for a profit, it’s important that the value at which we hold the asset remains confidential. If this information is disclosed, a potential buyer could use it to lower the sale price.
Negatives may appear in the Cash asset class and for derivative positions.
We hold cash for two main reasons. Its primary purpose is to provide liquidity where required by members and to have quick access to money to opportunistically invest when markets dislocate. However, it’s also used as collateral for derivatives. This collateral is cash that needs to be put forward to guarantee the investors will make good on their promised transaction. The value of cash-backing derivatives is adjusted based on the profit or loss of the position. Then it can be negative when short-term losses have been incurred.
In derivative positions, exposures can be negative because derivatives can be used to either increase or decrease exposure to an asset class. For example, the total derivatives exposure to foreign currencies is often negative as derivatives are used to mitigate risk and reduce our exposure to foreign currencies.
The Hobart City Council (HCC) and Launceston City Council (LCC) Defined Benefit funds have a different strategic asset allocation compared to the Quadrant Defined Benefit fund.
Contact us for more information on the strategic asset allocation of each fund.
The Sustainable option isn’t designed to completely exclude all exposure to coal. Doing so isn’t practical and is not in members’ best financial interests.
Instead, the Sustainable option aims to achieve its stated financial objectives while integrating environmental, social and governance (ESG) considerations into the risk framework for all asset classes.
The specialist investment managers selected with Australian and international shares target companies with progressive strategies and competitive advantages to address key sustainability challenges including climate change. To ensure those funds are managed in a way that aligns with our ESG values, a full analysis of their investment process is conducted, including how they manage ESG risks. This includes how they engage investee companies to improve ESG outcomes.
For more information on the Sustainable option and the investment processes that are applied, see our Sustainable investment option fact sheet.
We invest our pre-mixed investment options across various asset classes and geographies. This diversification is one of the key approaches to managing risk on behalf of members.
However, when we invest in foreign assets, the returns and asset valuation are typically denominated in the currency of that asset. This is known as foreign currency exposure. Foreign currency exposure increases the uncertainty of returns because our members receive the returns in that foreign currency exchange rate. For example, when the Australian dollar increases, this decreases the value of foreign assets, as they become worth less in local currency terms.
Some foreign currency exposure is beneficial, and there’s a cost associated with using derivatives to reduce foreign currency exposure. Therefore, we manage our portfolio to a target level of foreign currency exposure that aims to improve members’ outcomes.