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| Warren Chant |
The median growth superannuation fund finished the financial year just into double-digit territory, according to the latest analysis released by Chant West.
The Chant West data showed the interim return for the median growth fund was 10.4 per cent, comfortably ahead of the long-term expected return of 6-7 per cent a year.
Chant West principal Warren Chant said the turnaround after two negative years was largely driven by a resurgence in listed share and property markets — something which suited the investment strategies of master trusts run by banks and wealth management companies, which finished the year ahead of the industry funds.
“After powering along for much of the year, share markets wobbled in the last quarter but, even so, the median growth fund managed a double-digit return,’ Chant said.
According to the Chant West data the top performing growth funds were BT Multi-Manager Balanced returning 13.9 per cent, Russell Balanced returning 13.5 per cent, CFS FirstChoice Growth returning 13.3 per cent, LGSS Diversified returning 12.8 per cent, MLC Horizon 4 returning 12.7 per cent, ING OptiMix Balanced returning 12.3 per cent, AMP Future Directions Balanced returning 12.3 per cent, Maritime Super Balanced returning 11.9 per cent, Asset Medium growth returning 11.9 per cent and CBA OSF Mix 70 returning 11.8 per cent.
