The median growth superannuation fund (61% to 80% growth assets) started the 2021-22 financial year up 1.1%, according to Chant West.
The research house found in July both Australian shares (1.1%) and international shares were up in hedged terms (1.7%), and were boosted to 4% in unhedged terms because of the Australian dollar depreciation over the month.
However, emerging market shares were down 4.7% during July in unhedged terms led by falls in the Chinese market. The Chinese government’s regulatory crackdown on technology and private education sectors sparked a sell-off.
Bonds during July were up both domestically and globally at 1.8% and 1.3% respectively.
Chant West senior investment research manager, Mano Mohankumar, said: “It’s a solid start, and a continuation of the remarkable bounce-back we’ve seen over the past 16 months.
“The cumulative return since the COVID low point at end-March last year is now about 27%, which is astonishing given the ongoing disruptions caused by the pandemic. Not only have we recovered all the losses incurred in the early COVID period, but we’re now sitting about 12% above the pre-COVID crisis high that was reached at the end of January 2020.”
Amid Australians’ growing penchant for seamless digital experiences, an industry professional believes the most successful superannuation funds will be looking to leverage technology for their members in a number of ways.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
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