POWERED BY MOMENTUM MEDIA
Median growth super fund up 2.2%
The median growth (61% to 80% in growth assets) superannuation fund grew 2.2% during April, bringing the first 10 months of the financial year to 14.7%, according to Chant West.
Both domestic and international shares were the main drivers of the month’s performance with Australian shares up 3.7%, and international shares up 4.1% in hedged terms, and 3.2% in unhedged terms as the Australian dollar appreciated during the month.
Chant West senior investment research manager, Mano Mohankumar, said: “Should growth funds finish the year at or around the end-April level, it would represent the highest annual return since 2012/13 when they surged 15.6%.
“They’ve shown their resilience – as we saw last financial year when they limited the COVID-induced damage to post a small loss of 0.6% – and now they’ve shown their powers of recovery.
“The cumulative return since the end of March last year is about 22%, which is astonishing given the health concerns, disruptions and economic damage caused by COVID-19. It also means that we’re more than 7% above the pre-COVID crisis high that was reached at the end of January 2020.”
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
