Super returns continue in double digits
Jeff Bresnahan
Unless there is a serious decline in markets, Australian superannuation funds look to be on target to reward members with another year of double digit returns, according to the latest data released by Sydney-based ratings house, SuperRatings.
The SuperRatings data reveals that domestic equities once again underpinned returns in March, with the median balanced investment option emerging at 1 per cent.
SuperRatings said this was solely attributable to “a raging Australian equity market”, which returned investors with a median of 3.01 per cent for the month, after fees and taxes.
It said this brought the financial year to date median balanced option up to 11.42 per cent.
Looking at balanced investment option fund returns for the nine months to the end of March, SuperRatings had Catholic Super topping the list with a return of 14.5 per cent, followed by Telstra Super Corp Plus with 13.4 per cent and JUST Super balanced, AustSafe Super and AMP CustomSuper returning 12.8 per cent.
SuperRatings said that despite the strong returns, super funds’ financial year-to-date performance lagged that of last year, so that the end result for the current financial year would be heavily dependant on how the markets finished the period,
“Irrespective, things are looking good for Australians,” the ratings house said.
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