We understand that you may have concerns about the impact of Coronavirus (COVID-19) and the collapse of oil prices on your retirement savings. Especially as over the past week the rout in financial markets has continued. During these uncertain times it is important to remember that superannuation is the longest-term investment most of us have. We need to remind ourselves that all market corrections and economic down turns ended and were followed by recovery. There is no reason to assume that this time will be different.

ElectricSuper is expecting negative returns for February and March. These follow years of above average returns and the long-term outlook for the Scheme’s performance remains strong. The Scheme has long held a diversified portfolio, which is more conservative than our peers, for the purpose of cushioning large falls in the market and for taking advantage of opportunities when such corrections occur. We want to assure you that ElectricSuper’s Investment Committee is in frequent contact and monitoring the situation in consultation with our investment manager JANA. Until now we had not made any changes to our investment strategy because of the continued market volatility as it struggles to deal with the uncertainty of the Coronavirus pandemic. However, as our tactical asset allocation to equities has reduced significantly, we have decided to make a modest and staggered investment into Australian and International equities.

Whilst we ask you not to panic and to stick with your existing investment strategy, if you are concerned, contact our helpline on 1300 307 844. We offer a free financial planning service that can assist you in selecting the most appropriate investment portfolio mix for your individual needs.

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