MLC Index Plus Conservative
Features
Information
Investment minimums
Pricing
Investment objective
The portfolio aims to provide a return that meets its benchmark (before fees) over 3 year periods.
Investment strategy
The portfolio has an approximately equal exposure to growth and defensive assets. The allocations to these assets are actively managed within defined ranges, in accordance with MLC's changing view of potential risks and opportunities in investment markets. The portfolio is broadly diversified across mainstream asset classes. It uses mainly passive investment managers for growth assets and active managers for defensive assets. These managers invest in many companies and securities in Australia and overseas.
Investor profile
The fund is intended to be suitable for investors who:
- you want some long-term capital growth and are seeking a diversified portfolio that has similar weightings to growth and defensive assets
- you want to keep costs down by using mostly lower cost investment managers, and
- you understand that there can be moderate to large fluctuations in income and the value of your investment.
Research house ratings
Rating
Meet the manager(s)
Our impressive investment capabilities are driven by our investment team and structure. Our unified team has had a long association with creating and managing multi-manager portfolios for investors and draws on the very best of our individual corporate heritages, honed over multiple investment cycles. We have created an investment capability of significant depth and breadth in the industry – leveraging a powerful common engine room working for the benefit of our clients. Using our market-leading investment approach, we structure our portfolios to deliver more reliable returns across many potential market environments.
Cumulative performance
| 3 months | 6 months | Year to date | 1 year | 3 years pa | 5 years pa | ||
|---|---|---|---|---|---|---|---|
| Fund | 2.40% | 3.69% | 2.14% | 10.14% | 10.00% | 6.82% | |
| FE Sector | 1.94% | 3.99% | 1.90% | 9.09% | 8.82% | 6.24% |
Calendar Performance
| 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | ||
|---|---|---|---|---|---|---|
| Fund | 9.19% | 10.36% | 10.69% | -6.50% | 9.53% | |
| FE Sector | 8.68% | 9.36% | 8.88% | -6.72% | 10.26% |
Asset allocation as at 28/2/2026
| Australian shares | 19.55% | |
| Global Shares | 23.87% | |
| Global property | 3.40% | |
| Infrastructure | 2.18% | |
| Australian fixed interest | 21.35% | |
| Global fixed interest | 20.86% | |
| Cash and short-term securities | 5.90% | |
| Alternative - growth | 2.17% | |
| Alternative - defensive | 0.72% |
Asset allocation range
| Asset class | Asset range |
|---|---|
| Cash | 0-30% |
| Fixed Income | 20-60% |
| Alternatives | 0-20% |
| Australian Shares | 5-30% |
| Global Shares | 10-35% |
| Property | 0-15% |
| Infrastructure | 0-15% |
Top holdings - Australian shares as at 28/2/2026
| BHP Group Limited | 2.07% |
| Commonwealth Bank of Australia | 2.01% |
| National Australia Bank Limited | 1.04% |
| Westpac Banking Corporation | 0.98% |
| ANZ Group Holdings Limited | 0.83% |
| Wesfarmers Limited | 0.63% |
| Macquarie Group Limited | 0.59% |
| CSL Limited | 0.53% |
| Goodman Group | 0.47% |
| Rio Tinto Limited | 0.45% |
Top holdings - International shares as at 28/2/2026
| NVIDIA Corporation | 1.03% |
| Apple Inc. | 0.94% |
| Alphabet Inc. | 0.80% |
| Microsoft Corporation | 0.70% |
| Amazon.com, Inc. | 0.52% |
| Taiwan Semiconductor Manufacturing Company Limited | 0.43% |
| Broadcom Inc. | 0.35% |
| Meta Platforms, Inc. | 0.34% |
| Tesla, Inc. | 0.27% |
| Welltower Inc. | 0.26% |
Portfolio highlights
Key contributors to performance for the quarter ended 31 December 2025 were:
- Strong returns in global shares (+2.7%).
- The exposure to insurance-related investments (+3.8%) generated strong returns.
- Exposure to short-maturity bonds and corporate bonds contributed positively to performance. The short maturity strategy returned +0.8% and extended credit strategy returned +1.4%.
Note: Returns for the asset classes above are before fees and tax.
Performance relative to benchmark
The portfolio has achieved its objective to provide a return that meets its benchmark (before fees) over 5 year periods, helped by active management of fixed income. Over the 5 years to 31 December 2025, the portfolio has produced a gross return of 6.7% pa which is +0.4% pa above the benchmark (before fees).