Australian superannuation growth funds generally recorded minor gains over August with the median fund returning 0.3 per cent for the month, according to Morningstar.
Morningstar's superannuation survey found Energy Super was the best-performing growth fund for the year, returning 9.5 per cent, REI Super Balanced and AustralianSuper both followed at 8.1, Austsafe at seven per cent, and Optimum 6.8 per cent.
In terms of MySuper options, Energy Super Mysuper was the top performer over the year to August 2016 (9.5 per cent), followed by Hostplus Balanced (9.4 per cent), and CBUS Super Growth (9.3 per cent).
The survey found the best performing balanced super funds over the year were Australian Ethical Balanced (8.2 per cent), Energy Super Capital Management (eight per cent), and AustralianSuper Stable (7.25 per cent).
Growth assets had mixed results over the month with global equities as the top performer at 1.3 per cent, followed by Australian equities -1.6 per cent, global listed property -2.6 per cent, and Australian listed property at -2.8 per cent.
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
just goes to show as usual, the Industry Super Funds absolutely kill the retail funds etc !! :-)
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