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Retirement Plus Strategy

RetirementPlus Strategy Age 50 Financial Performance

RetirementPlus Strategy Age 50 as at 31 March 2025

The Aurora RetirementPlus Strategy declined 1.9% over the past quarter whilst maintaining positive returns over longer time periods. This demonstrates the strength of a well-diversified portfolio and a longer-term investment perspective in a quarter marked by market volatility and mixed asset class performance.

Key contributors and detractors

The standout contributor to returns was the Strategy’s allocation to listed infrastructure. Our Responsible Listed Infrastructure investment posted a 4.7% gain for the quarter, benefiting from a backdrop of falling US bond yields and a more supportive interest rate environment. Global bonds also added value, delivering a 1.0% return as geopolitical uncertainty and tariff-related concerns increased demand for high-quality fixed income.

In contrast, equity markets were a drag on performance. Australasian equities declined by 4.8% and global equities fell 0.4%, though both outperformed their respective benchmarks. Investor concerns around slowing growth and persistent inflation weighed heavily on sentiment, particularly in the latter part of the quarter. The implementation of new US tariff policies added pressure to global trade and, by extension, impacted Australia and New Zealand through their strong economic ties to China.

Maintaining a long-term perspective

The volatility seen across markets reaffirms the value of a diversified approach. While equities faced headwinds, the strength in global bonds and infrastructure supported the resilience of the Strategy, reinforcing the importance of holding a mix of complementary assets.

Looking ahead, global markets remain challenged by a range of macroeconomic risks. Stagflation fears — defined by a combination of sluggish growth and elevated inflation —are gaining traction, putting pressure on both equity and bond markets. In the US, elevated stock valuations present a limited margin for error should corporate earnings disappoint. Meanwhile, rising protectionism and tariff escalations threaten to further disrupt global supply chains and suppress trade activity, contributing to continued vol atility.

In this environment, Aurora Capital remains firmly committed to a disciplined investment approach —one that prioritises diversification, prudent risk management, and long-term perspective to help safeguard and grow our investors’ wealth.