Investment Performance Update: How We Performed in Q4 of 2023

2 min read
21/03/24 11:39 AM

The Latest Quarterly Performance Results for Crescent Wealth

We are pleased to present our quarterly performance update for Crescent Wealth Superannuation Fund, covering the period ending December 31, 2023. These results continue our positive momentum from the previous quarter, reflecting our commitment to delivering strong returns for our members.

Overview of Performance:

In the past quarter, our investment options have delivered impressive returns:

  • Crescent Wealth Super Balanced Global: 10.88%
  • Crescent Wealth Super Growth: 8.47%
  • Crescent Wealth Super Balanced: 7.48%
  • Crescent Wealth Super Conservative: 6.01%

These returns demonstrate the effectiveness of our investment strategies and the dedication of our team.

 

Market Conditions

The global equity markets performed much better than expectations in 2023 as S&P 500 closed out 2023 with a gain of 24%. Meanwhile ASX too finished on a strong note with the S&P/ASX200 ticking up 7.8% for the year 2023. These strong returns were on the back of resilient global economy and healthy corporate earnings. Moreover, ease in inflation compared to 2022 levels and anticipation of Federal reserve and other global central banks eventually easing their monetary stance kept the markets mostly buoyant throughout 2023.

Strong market performance in 2023 with inflation still the key talking point

Global equity markets performed much better than expectation in 2023 as the S&P 500 closed out 2023 with a gain of 24%. Meanwhile, the ASX also finished on a strong note with the S&P/ASX200 ticking up 7.8% for the year 2023. These strong returns were on the back of the resilient global economy and healthy corporate earnings. The easing of inflation compared to 2022 levels and market anticipation of the Federal Reserve and other global central banks eventually easing their monetary policy stance have also kept the markets buoyant throughout 2023.

Markets underwent a challenging period early in the quarter, due to mounting concerns about persistent inflation and Middle East troubles which resulted in volatility and higher oil prices.  Momentum shifted in late October and throughout November with declining oil prices, lower bond yields and decreasing inflation boosting confidence, with strong market returns in November.

This rally continued throughout December as the US Fed made it clear that additional rate hikes were unlikely, this confidence very quickly spread throughout global markets supported by robust economic activity.

Looking Ahead

Although inflation has come down, we do flag the risk of monetary policy remaining tighter for longer than what market seems to be anticipating. Recent US CPI figures (Feb 2024 CPI at 3.2%, up 0.4% MoM) have indicated that inflation remains sticky and as a result rates may stay higher for longer than what was being anticipated at the start of 2024. As a result US 10-Year bond rate is back well above 4% and may portend to further market volatility. This brings cause for us to look ahead to the next few months with some caution.  From our vantage point, we continue to like quality assets which are in line with our investment objectives of preserving and steadily growing the wealth of our members in the long term.  

Conclusion

We're proud of our latest returns and extend our gratitude to our members for their trust and support. At Crescent Wealth, we're dedicated to providing competitive Islamic returns to help our members build their superannuation savings. We look forward to updating you again next quarter.


In 2013, Crescent Wealth Super became the first Shariah-compliant super-fund. We understand that your superannuation investment is more than just about maximising returns; it's about aligning with your beliefs and values while securing your financial future so you can retire with dignity.

If you are interested in switching to a super fund that displays your Islamic values of ethical and responsible investment, call us on 1300 926 626 or click below.