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Funds, growth assets see gloomy first quarter
Median funds returned only 0.9 per cent over the first quarter of 2014, making it a subdued three months for Australian superannuation funds.
The Morningstar Australian Superannuation Survey showed individual results varied between a high 1.7 per cent to a low 0 per cent.
Among growth super funds, Legg Mason Growth came out on top over the year to 31 March (18.7 per cent), followed by REST Super Diversified (16.2 per cent), Legg Mason Balanced (15.9 per cent) and REST Super Core (15.6 per cent).
Legg Mason Growth also finished first over five years (14.2 per cent), followed by Legg Mason Balanced (13.9 per cent) and Schroder's (12.3 per cent).
REST Super Balanced was the top among balanced options (11.8 per cent), followed by State Super Balanced (11.3 per cent) and Care Super Conservative Balanced (10.8 per cent).
Balanced options had 40-60 per cent growth assets.
Growth assets saw dull results in March with Australian shares at 0.2 per cent, global listed property at 0 per cent, Australian listed property at -1.6 per cent, and international shares at -3.4 per cent.
International shares had the best finish over the year at 34.7 per cent, with Australian shares at 13 per cent, Australian listed property at 5 per cent and global listed property at 4.2 per cent.
Defensive assets came to 25 per cent on average (11.1 per cent domestic fixed interest, 5.8 per cent international fixed interest, and 8.1 per cent cash).
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Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
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