Positive result for HESTA

HESTA, the $7.4 billion super fund for health and community services, has declared a 13.4% return, after fees and taxes, on its Core Pool option for 2004-2005.

"Our strategy is to achieve steady growth for members over the long-term, regardless of how markets are performing," said HESTA CEO Anne-Marie Corboy. "The result maintains a solid performance underpinned by our diversified, long-term strategy that has enabled us to continue to deliver above average returns for our members. Over 90% of HESTA members are invested in Core Pool and have benefited from this strategy. While there will always be normal fluctuations in returns, the success of our strategy has been recognised with Core Pool's five year performance among the best." In comparison with recent industry surveys, Core Pool would rate fifth in the Top Five for Balanced Funds for its five-year average return of 7.7% to 30 June 2005.