The portfolios were again positive, but slightly underperforming their respective benchmarks. As is to be expected in a market rally, it was the Ivy Foreign Equity being the main detractor from performance in all portfolios. The fund places a big emphasis on downside protection and tends to lag in sharply rising markets. However, in volatile markets, the fund is expected to significantly outperform. Despite this recent underperformance, the risk reward metrics for the portfolios remain within expected ranges.
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For September, the returns of the portfolios were:
| 1 Mth | 3 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 5 Yr | 10 Yr | |
| Conservative | 1.0% | 1.3% | 4.2% | 7.3% | 4.5% | 5.4% | 4.4% | 6.1% |
| Moderate Balanced | 1.1% | 1.2% | 4.4% | 8.0% | 4.0% | 4.8% | 3.0% | 6.0% |
| Balanced | 1.4% | 1.6% | 4.8% | 8.6% | 3.9% | 4.6% | 2.4% | 6.3% |
| Balanced Growth | 1.4% | 1.7% | 5.4% | 10.0% | 3.7% | 4.1% | 0.9% | 6.0% |
| Growth Portfolio | 1.6% | 2.1% | 6.9% | 12.3% | 5.2% | 5.2% | -0.2% | 6.1% |