The median superannuation growth fund recorded a respectable 9.2 per cent for the calendar year despite growth assets producing generally poor results, according to Morningstar data.
Morningstar’s survey found Maple-Brown Abbott was the best performing growth fund for the year, returning 12.8 per cent, followed by Aon Balanced Growth (10.8 per cent), REST Super Core, and VicSuper FutureSaver Growth (both 10.3 per cent), and Energy Super Balanced (10.2 per cent).
Growth assets produced generally poor results over the month of January with Australian equity performing the best at -0.8 per cent, followed by global listed property -1.0 per cent, global equities -2.4 per cent, and Australian listed property at -4.8 per cent.
CBUS was the best performing MySuper option over the year to 31 January 2017 at 11.6 per cent, followed by Russell Balanced (11.4 per cent), AustralianSuper Balanced (11.3 per cent), and REST Super Core (10.3 per cent).
The best-performing balanced (40 to 60 per cent growth assets) super funds over the same period were Optimum Balanced Growth at 8.4 per cent, Energy Super Capital Managed at 8.2 per cent, and REST Super Balanced at eight 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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