Australian superannuation median growth funds returned a positive 7.5 per cent for the 2016 calendar year thanks to Australian listed property returning 13.2 per cent in December, according to Morningstar.
The research house's latest survey found Australian listed property was the best-performing growth asset class in December 2016, followed by Australian equities (11.8 per cent), global listed property (8.3 per cent), and global equities (7.9 per cent).
Maple-Brown Abbott was the best performing growth fund for the year, returning 10 per cent, followed by Care Super Balanced (9.4 per cent), Optimum Growth and Energy Super Balanced (both at 8.8 per cent), and HESTA Super Core Pool (8.4 per cent).
CBUS Growth was the top MySuper option over the year to 31 December 2016 at 9.6 per cent, followed by Care Super Balanced (9.4 per cent), and Energy Super (8.8 per cent).
The survey found the best performing balanced (40 to 60 per cent growth assets) super funds were Energy Super Capital Managed (7.3 per cent), Optimum Balanced Growth (7.1 per cent), and EISS Super (6.6 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.
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