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Morningstar data confirm returns outcome
Research and ratings house, Morningstar, has confirmed the degree to which a difficult June saw most Australian superannuation funds falling short of reaching double-digit financial year returns.
The Morningstar data, released yesterday, found Australian superannuation funds lost ground over the month of June, with all funds recording negative returns – only the third time over the past 12 months the median fund had entered negative territory.
The analysis said the poor June results prevented the median growth fund from reaching double-digit returns over the financial year to 30 June 2015, falling just short, returning 9.9 per cent over the financial year with results ranging from 12.7 to 6.9 per cent.
However it said that, over the longer term, the median returns were 13.2 per cent over the three years and 9.5 per cent over the five years to 30 June, 2015.
Morningstar said the best-performing growth super funds over the year to 30 June were Legg Mason Growth (12.7 per cent), AMP Balanced Growth (12.5 per cent), and AMP Capital FD Balanced (11.5 per cent).
It said the best-performing balanced (40-60 per cent growth assets) super funds over the year to 30 June were BT Balanced Returns (10.3 per cent), REST Super Balanced (9.0 per cent), and AMP Moderately Conservative (8.8 per cent).
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