Fund watch
How has each SIL fund performed?
| SIL Mutual Scheme Performance as at 30 September 2024 |
3 months (%) |
1 year (%) |
3 years (% p.a.) |
5 years (% p.a.) |
10 years (% p.a.) |
| SIL Cash Plus Fund | 1.45% | 5.78% | 3.87% | 2.58% | 2.45% |
| SIL Balanced Plus Fund | 4.87% | 15.27% | 2.51% | 5.47% | 7.10% |
| SIL New Zealand Fixed Interest Fund | 3.69% | 10.71% | 0.12% | -0.01% | 2.65% |
| SIL New Zealand Share Fund | 6.12% | 9.74% | -2.83% | 2.90% | 8.33% |
| SIL International Share Fund | 1.24% | 13.99% | 5.34% | 8.75% | 10.84% |
Performance is after annual fund charges and before tax.
It was another good quarter for US share markets with several indices trading to new record highs, while European markets were also higher across the board.
In the US, the S&P 500 rose 5.9%, while the NASDAQ 100 was up 2.8%. Both reached record highs during the quarter. At a sector level, interest rate cuts were particularly beneficial to the real estate sector, while lower oil prices weighed on energy stocks. Across in Europe, share markets also rose, but mostly underperformed US markets with the Euro Stoxx 50 rising 2.4% over the quarter, while the FTSE 100 ended up 0.9%.
Meanwhile, some of the best-performing share markets were in Asia after the People’s Bank of China (PBOC) announced a stimulus package to help alleviate deflationary concerns and shore up the flailing property market. After a sell-off in August and early September, the Shanghai Composite rallied late to close up 14.3%, while the Hang Seng gained more than 17%.
Against the backdrop of a good quarter for global equity markets, the SIL International Share Fund rose 1.24%.
New Zealand equities were also higher, benefiting from a 25 basis point cut in the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ). Over the quarter, the NZX 50 rose 6%.
Despite the NZX 50’s strong performance, economic data in New Zealand remained weak; retail sales continued to slide, while the unemployment rate hit 4.6%, its highest level in more than three years. The worsening economic outlook saw bonds in demand as interest rate markets priced in several more rate-cuts from the RBNZ.
Over the quarter, the SIL New Zealand Share Fund rose 6.12%, the SIL New Zealand Fixed Interest Fund rose 3.69%, while the SIL Cash Plus Fund rose 1.45%. Finally, the SIL Balanced Plus Fund, which has around 65% of its holdings in growth investments, with the remaining 35% in income investments, rose 4.87% over the quarter.
Fund Watch has been prepared by ANZ New Zealand Investments Limited (‘ANZ Investments’) for information purposes only and it should not be treated as financial advice.
Superannuation Investments Limited is the issuer and manager of the SIL Mutual Scheme. ANZ Investments is not an authorised deposit taking institution (ADI) under Australian law and investments in the scheme aren't deposits in or liabilities of ANZ Bank New Zealand Limited, Australia and New Zealand Banking Group Limited, or their subsidiaries (together 'ANZ Group'). ANZ Group doesn’t stand behind or guarantee ANZ Investments. Investments in the scheme are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. ANZ Group won’t be liable to you for the capital value or performance of your investment.
Past performance does not indicate future performance, and performance can be negative as well as positive. This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product.
Investment and administration manager: ANZ New Zealand Investments Limited.