Where are HESTA funds invested?

Each HESTA investment option invests in a mix of different assets known as a 'strategic asset allocation'. We can alter the mix within certain ranges to adjust to market conditions.

Bold figures represent the actual asset allocations within each range.

For more information on HESTA investments, download Investment Choices, and compare investment options online.

Strategic asset allocation and ranges: Ready-Made Investment Pools (as at 1 July 2011)

	Conservative Pool (formerly Cash Plus)	Core Pool	Shares Plus	Eco Pool
Cash	25-30-50%	0-3-30%	0-2-25%	5-10-25%
Australian Bonds	5-11.25-20%	2-5-10%
International Bonds	5-11.25-20%	2-5-10%
Unlisted Debt	0-6.5-9%	0-2-4%
Opportunistic Growth		0-3-6%	0-2.5-10%
Australian Direct Property	0-3.6-8%	5-8-15%	0-5.1-12%	0-10-15%
International Direct Property	0-1.4-4%	0-3-5%	0-1.9-5%	0-0-5%
Australian Infrastructure	0-3.7-5%	0-6-10%	0-3.6-10%
International Infrastructure	0-4.3-8%	0-6-15%	0-4.4-15%
International Shares	5-12-23%	15-23-35%	15-33-35%	25-35-40%
Australian Shares	5-15-25%	20-31-36%	25-40-41%	30-45-50%
Australian Private Equity		0-1-5%	0-1-2%
International Private Equity		0-3-5%	0-3-5%
Other Assets	0-1-2%	0-1-10%	0-1-2%

Strategic asset allocation and ranges: Your Choice Asset Classes (as at 1 July 2011)

	Your Choice Infrastructure	Your Choice Private Equity	Your Choice Property	Your Choice Australian Shares	Your Choice International Shares	Your Choice Cash	Your Choice Global Bonds (formerly Fixed Interest)
Cash	5-10-15%	5-10-15%	5-10-15%	0-25%	0-25%	100%
Australian Infrastructure	35-40-45%
International Infrastructure	45-50-55%
Australian Private Equity		17.5-22.5-27.5%
International Private Equity		62.5-67.5-72.5%
Australian Property			62.5-67.5-72.5%
International Property			17.5-22.5-27.5%
Australian Shares				75-100%
International Shares					75-100%
Australian Bonds							50%
International Bonds							50%

HESTA Investment Managers (as at 1 January 2012)

These are the professional investment managers that we use to invest HESTA's funds.

We have the discretion to change managers at any time in accordance with its investment strategies.

Asset Class	Investment Manager
Cash	Industry Funds Management Pty Ltd
	JP Morgan Chase Bank, N.A.
	ME Bank
	National Australia Bank Limited
	Perpetual Investment Management Limited
	State Street Global Advisors, Australia, Limited
Global Bonds	BlackRock Asset Management (Australia) Limited
	Highland Good Steward Management, LLC
	Industry Funds Management Pty Ltd
	ME Portfolio Management Limited
	Pacific Investment Management Company
Unlisted Debt	Industry Funds Management Pty Ltd
Property	AEW Value Investors, L.P.
	BT Funds Management No 2 Limited
	Challenger Manager Services Limited
	Charter Hall Limited
	DNZ Property Fund Limited
	EG Funds Management
	Eureka Funds Management Limited
	Fortius Funds Management Pty Limited
	Franklin Templeton Investments Australia Limited
	Industry Superannuation Property Trust Pty Ltd
	IGIPT Pty Ltd
	Morgan Stanley & Co
	Queensland Investment Corporation
	Scarborough Pacific Group
	Valad Funds Management Limited
International Shares	Altrinsic Global Advisors, LLC
	Baillie Gifford Overseas Limited
	BlackRock Asset Management (Australia) Limited
	First State Investments (Hong Kong) Limited
	Generation Investment Management LLP
	Hexavest Inc
	Lazard Asset Management Pacific Co
	Marathon Asset Management (Australia) Limited
	Mondrian Investment Partners Limited
	Orbis Investment Management Limited
	Taube Hodson Stonex Partners LLP
	Turner Investment Partners Pty Ltd
	Walter Scott & Partners Limited
Australian Shares	Aviva Investors Australia Limited
	BlackRock Asset Management (Australia) Limited
	BT Investment Management No 2 Limited
	Citigroup Global Markets Australia Pty Limited
	Cooper Investors Pty Limited
	Eley Griffiths Group Pty Ltd
	Ellerston Capital Limited
	Goldman Sachs Asset Management & Partners Australia Pty Ltd
	Greencape Capital Pty Ltd
	Industry Funds Management Pty Ltd
	Maple-Brown Abbott Limited
	Northcape Capital Pty Ltd
	Orbis Investment Management (Australia) Pty Limited
	Paradice Investment Management Pty Ltd
	Perpetual Investment Management Limited
	PM Capital Limited
	Renaissance Smaller Companies Pty Ltd
	Solaris Investment Management Limited
Infrastructure	Hastings Funds Management Limited
	Industry Funds Management Pty Ltd
	Stafford Timberland Limited
Private Equity	Adveq Management AG
	Coller International Partners V-A, L.P.
	Generation Investment Management LLP
	Industry Funds Management Pty Ltd
	Lexington Capital Partners VI-B, L.P.
	Macquarie Investment Management LLP
	Newbury Partners LLC
	Oaktree Capital Management, L.P.
	Performance Equity Management, LLC
	Quay Partners Pty Ltd
	Siguler Guff & Company, LLC
	Vencap Limited
Opportunistic Growth	BlackRock Alternative Advisors
	Bridgewater Associates, Inc
	Cowen Healthcare Royalty Management, LLC
	Industry Funds Management Pty Ltd
	Oaktree Capital Management, L.P.
Currency Management	Lee Overlay Partners Limited
	ME Portfolio Management Limited
	Mesirow Financial Investment Management, Inc
	Pareto Partners