Greece still hurting fund performance

26 June 2012

| By Staff |

Uncertainty in Greece is still driving poor performance, according to SuperRatings SR50 Balanced Index for May.

All funds were down, with the best performer losing 0.53 per cent compared to the lowest return of -3.60 per cent.

The median balanced fund, where 70 per cent of members are invested, fell -2.2 per cent in May, while the median financial year-to-date return was 0.25 per cent.

Australian and international equities were up in June following Greece's election and formation of a new government, but volatility was ensured until European leaders take decisive action, according to SuperRatings.

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The slight rise in equities in June takes the median financial year-to-date return to 0.50 per cent, the report said, adding the financial year could finish in the black if the market was able to hang onto the month's gains.

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