Funds, growth assets see gloomy first quarter

Median funds returned only 0.9 per cent over the first quarter of 2014, making it a subdued three months for Australian superannuation funds.

The Morningstar Australian Superannuation Survey showed individual results varied between a high 1.7 per cent to a low 0 per cent.

Among growth super funds, Legg Mason Growth came out on top over the year to 31 March (18.7 per cent), followed by REST Super Diversified (16.2 per cent), Legg Mason Balanced (15.9 per cent) and REST Super Core (15.6 per cent).

Legg Mason Growth also finished first over five years (14.2 per cent), followed by Legg Mason Balanced (13.9 per cent) and Schroder's (12.3 per cent).

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REST Super Balanced was the top among balanced options (11.8 per cent), followed by State Super Balanced (11.3 per cent) and Care Super Conservative Balanced (10.8 per cent).

Balanced options had 40-60 per cent growth assets.

Growth assets saw dull results in March with Australian shares at 0.2 per cent, global listed property at 0 per cent, Australian listed property at -1.6 per cent, and international shares at -3.4 per cent.

International shares had the best finish over the year at 34.7 per cent, with Australian shares at 13 per cent, Australian listed property at 5 per cent and global listed property at 4.2 per cent.

Defensive assets came to 25 per cent on average (11.1 per cent domestic fixed interest, 5.8 per cent international fixed interest, and 8.1 per cent cash).