While Catholic Super has topped Canstar’s top-performing super fund list with its employer sponsored aggressive option, it’s surprisingly balanced rather than growth options that round out the list.
The HOSTPLUS Personal Super Balanced, AustralianSuper Balanced, Sunsuper for life Lifecycle Balanced Pool, and CareSuper Employee Plan Balanced options all made Canstar’s list, with Cbus’s Growth option being the only other non-balanced option to feature.
The list looked at one, three and seven-year returns, with final ratings determined by that last metric. The top-rated option, Catholic Super’s Aggressive offering, returned -1.29, 7.59 and 10.49 per cent over each period respectively.
Catholic Super chief investment officer, Anna Shelley, said that the long-term nature of superannuation drove the fund to invest its younger members in aggressive settings, such as the option that topped the table.
She also said that she was particularly proud of the fact that the fund served so many teachers and nurses, who were mainly women.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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