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Super returns bounce back in April
On the back of a flat March quarter, superannuation funds have had a strong April with the median growth fund up 1.7 per cent, according to Chant West’s latest data.
This brought the returns for the first ten months of this financial year to a healthy 7.4 per cent, putting them on track for a ninth straight positive year.
Decent performances from the share markets, which were the main drivers of growth fund performance, helped achieve this result.
Australian shares were up 3.8 per cent for April, while their international equivalents were up 1.9 per cent in hedged terms. In unhedged terms, the slight depreciation of the Australian dollar pushed this figure up slightly to 2.8 per cent.
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The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.01 3 y p.a(%)
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