Global equity markets boost super options
Strong currency and global equity market returns have driven super funds with AustralianSuper's balanced investment option returning 10.86 per cent over the past year.
The option in which over 80 per cent of the super fund's members invest in had its third year of double-digit returns. Over ten years the option has returned an average of 7.3 per cent each year.
Deputy chief executive and chief investment officer, Mark Delaney, said the returns were driven by reasonable returns from US, European, and Japanese equity markets boosted by the strength of foreign currencies against the Australian dollar.
This was coupled with strong returns from property and infrastructure, and modest returns on fixed income and cash.
"This strong result shows the benefits of AustralianSuper's increased focus on active and internal management of assets," Delaney said.
The balanced option holds almost $64 million of the members' retirement savings.
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An ASIC review has identified superannuation trustees are demonstrating a “lack of urgency” around improving their retirement communication and still taking a one-size-fits-all approach.
Superannuation funds have welcomed the boost that Treasury’s improvement on the Low-Income Superannuation Tax Offset will have for women and younger members.
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