OnePath High Growth Index

 

Features

Information

APIR codeMMF1570AU
Minimum suggested Investment time frame7+ years
Growth/defensiveGrowth 90% / Defensive 10%
FE fundinfo sectorMixed Asset - Aggressive
Income distribution frequencyQuarterly
Total fees and costs as at 9 February 20220.31% pa
Fund size$26.37m
Inception date15 November 2010
Establishment Fee (pa)0.00%

Investment minimums

Please refer to PDS 

Pricing

Price date30/06/2023
Entry$1.1436
Exit$1.1443

Standard risk measure

1 2 3 4 5 6 7
Standard Risk Measure

A Standard Risk Measure score of 6 equates to a Risk Label of 'High' and an estimated number of negative annual returns over any 20 year period of 4 to less than 6. This is a measure of expected frequency (not magnitude) of capital losses, calculated in accordance with ASFA/FSC guidelines.

Investment objective

The fund seeks to track the weighted average return of the various indices of the underlying funds, in which the fund invests, in proportion to the strategic asset allocation (SAA) for the fund, before taking into account fees, expenses, and tax.

Investment strategy

The fund holds units in a range of underlying funds, and/or direct
assets to achieve the mix of assets.The portfolio targets a 10% allocation to income asset classes (cash and fixed interest securities) and a 90% allocation to growth asset classes (property securities and shares).

Investor profile

The Fund is intended to be suitable for investors seeking to track the weighted average returns of the various indices of the underlying funds in which the fund invests

Research house ratings

Rating

LonsecRecommended

Meet the manager(s)

NameIOOF Investment Team
BiographyOur impressive investment capabilities are driven by our investment team and structure. Each asset class has a dedicated portfolio manager who enjoys strong support from a host of support staff including analysts and investment specialists. Furthermore, the team benefits from the strong support of our additional research capabilities, namely through our asset consultant.
PhotoIOOF Investment Team

Cumulative performance

ResetPerformance line chart
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3 months6 monthsYear to date1 year3 years pa5 years pa
Fund3.68%9.57%9.57%15.06%9.67%7.18%
FE Sector2.91%7.63%7.63%11.54%9.33%6.11%

Calendar Performance

Performance Bar chart
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31/12/202231/12/202131/12/202031/12/201931/12/2018
Fund-9.59%18.53%4.69%22.79%-2.87%
FE Sector-8.60%18.11%2.94%19.90%-3.62%

Performance is net of management costs and expenses. Performance is based on exit price to exit price for the period and assumes that all distributions are reinvested. Management costs and other expenses are accounted for in the exit price. Past performance is not a reliable indicator of future performance.


The performance data has been sourced by FE fundinfo.


Asset allocation as at 30/06/2023

Breakdown pie chart
Australian shares35.38%
International shares54.81%
Australian fixed interest2.84%
International fixed interest6.82%
Cash and short-term securities0.14%

Actual versus target asset allocation as at 30/06/2023

Manager diversification within each asset class as at 30/06/2023

Breakdown pie chart

Top holdings - Australian shares as at 30/06/2023

BHP Group Ltd3.66%
Commonwealth Bank of Australia2.72%
CSL Limited2.15%
National Australia Bank Limited1.33%
Westpac Banking Corporation1.20%
ANZ Group Holdings Limited1.14%
Woodside Energy Group Ltd1.05%
Macquarie Group, Ltd.1.04%
Wesfarmers Limited0.90%
Telstra Group Limited0.80%

Top holdings - International shares as at 30/06/2023

Apple Inc.3.01%
Microsoft Corporation2.36%
Amazon.com, Inc.1.18%
NVIDIA Corporation1.03%
Tesla, Inc.0.73%
Alphabet Inc. Class A0.70%
Alphabet Inc. Class C0.64%
Meta Platforms Inc. Class A0.62%
UnitedHealth Group Incorporated0.44%
Berkshire Hathaway Inc. Class B0.43%

Market and portfolio review

The last quarter of 2022 saw a continuation of monetary policy tightening by Western developed central banks, although many reduced the size of their rate hikes. The 2s-10s yield curve inverted more deeply during this period. The effects of rapid and aggressive policy tightening on economic growth became more evident. Leading economic indicators continue to weaken, suggesting that growth is likely to be below trend across regions. Inflation appeared to peak in some major Western economies later in 2022, including the United States and Canada. However, it remains substantially higher than central bank inflation targets. The U.S. dollar weakened against other major currencies in the fourth quarter. Anticipation of a U.S. Federal Reserve pause in the near future, along with expectations of other central banks becoming more hawkish in relative terms, contributed to the dollar’s relative softening.


The final quarter of 2022 offered a reprieve for both global equities and global fixed income, with major asset classes posting positive returns after a challenging environment in the first three quarters of the year.


Alternative asset classes also experienced gains in the fourth quarter. Commodities posted positive returns, with industrials and precious metals performing particularly well. Global REITs also posted gains, rebounding after losses in the third quarter.

Future investment strategy

Not surprisingly, the outlook for 2023 is largely dependent on the path of monetary policy, which in turn is heavily reliant on the path of inflation. Our base case is that inflation will moderate, leading to a pause in central bank tightening in the first half of 2023. We expect a rising global risk appetite, reflecting a positive repricing of recession risks in terms of timing, duration and magnitude.


In the shorter term, we expect a tug of war between “risk on” and “risk off” market environments. However, as the year unfolds, we expect risk assets to perform better, which is likely to result in better relative performance for equity markets in value-oriented regions and cyclical sectors of the stock market, as well as risky credit and investment grade credit. Currency preferences include the Australian dollar, Canadian dollar and Brazilian real as we expect the U.S. dollar to continue to weaken.

This website contains general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this information, you should assess your own circumstances or seek advice from a financial adviser. You should obtain and consider a copy of the relevant Product Disclosure Statement (PDS) or offer document available from us or your financial adviser, before you acquire a financial product.

OneAnswer Frontier Investment Portfolio is issued by OnePath Funds Management Limited ABN 21 003 002 800 AFSL 238342.

The information provided in this table is a brief outline of the major features of OneAnswer Frontier Investment Portfolio. It is intended as a quick and easy reference source for investors. The table should not be used as a substitute for reading the appropriate Product Disclosure Statement (PDS) prior to you making any decision to invest through OneAnswer Frontier Investment Portfolio.

The information is of a general nature and has been prepared without taking into account your objectives, financial situation and needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. We recommend that you read the relevant PDS before deciding to acquire, or to continue to hold, the product.

The PDS can be located under the following links: Product Disclosure Statement (Part One) (690kb) and Investment Funds Guide (PDS Part Two) (1,018kb) and should be read in conjunction with the Additional Information Guide.

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