The median balanced fund achieved a 0.4 per cent positive return for the 2011-12 financial year despite the challenges in local and global equity markets, according to SuperRatings research.
Despite such a measly return, SuperRatings' founder Jess Bresnahan said it came during one of the most difficult times in two decades.
"Hence, it should be seen for what it is – namely, the third consecutive positive gain for balanced options since the lows of the GFC and a return that has consolidated 20 per cent gains for the average Australian superannuation account over the last three years," he said.
But those approaching or in retirement were forced to realise a -0.2 per cent loss since the onset of the global financial crisis almost five years ago, he said.
However, the long-term annualised return since the onset of compulsory super 20 years ago was 6.6 per cent – in line with the CPI+3.5 per cent per annum many balanced funds aim to achieve, according to SuperRatings.
