Australian superannuation growth funds have posted falls in June, with the median fund returning -1.1 per cent for the month, according to Morningstar.
The Australian Superannuation Survey, which covers the performance of the Australian retirement savings vehicles to June 30, 2016, revealed that the individual results ranged from 0.5 down to -2.6 per cent.
At the same time, median results over the longer term for growth funds were 8.1 per cent over the three years, and 8.2 per cent and five per cent over the five and 10 years, respectively.
According to Morningstar's study, the best-performing growth fund for the year, returning 5.3 per cent, was REI Super Balanced, followed by AustralianSuper Conservative Balanced (4.9 per cent) and Energy Super Balanced (4.5 per cent).
As far as the balanced superfunds were concerned, the best-performer for the year in June was AustralianSuper Stable (5.2 per cent), followed by Australian Ethical Balanced and Energy Super Capital Guaranteed (both 4.2 per cent).
Growth assets produced mixed results in June, with Australian listed property being the best-performing asset class (3.5 per cent), followed by global listed property (2.6 percent), Australian equities (-2.4 percent), and global equities (-3.8 percent).
Meanwhile, multisector growth superfunds' average allocation to equities was 57.8 per cent: 27.4 per cent Australian and 30.4 per cent global, while the average property exposure was 10.3 per cent.
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.
Add new comment