During 2021, HESTA super fund earned a return of 1% p.a. by making the following investments in asset classes:

	Weight	Return(p.a.)
Bonds	20%	5%
Stocks	80%	0%

The return on a benchmark portfolio was 2% p.a., calculated from the following information.

	Weight	Return(p.a.)
Bonds (ASX Index)	50%	5%
Stocks (ASX Index)	50%	-1%

The contribution of asset allocation across markets to the HESTA Super fund's annual total abnormal return was 1.80%.1.00%.0.80%.1.00%. .

The contribution of selection within markets to the HESTA Super fund's annual total abnormal return was 1.80%.1.00%.0.80%.1.00%. .