The deputy executive director at MTAA Super, Leanne Turner, has decried as “nonsense” suggestions that funds with large holdings in alternatives are overvalued.
Listed markets continued their dismal performance up to December 31, with Australian shares down 38.9 per cent and Australian listed property down 55.3 per cent, while unlisted property lost just 0.3 per cent for the year. Asset allocation was more important than ever before in 2008; super funds heavily weighted to listed markets underperformed funds with big unlisted books by nearly 15 per cent.
