The median superannuation growth fund recorded a respectable 9.2 per cent for the calendar year despite growth assets producing generally poor results, according to Morningstar data.
Morningstar’s survey found Maple-Brown Abbott was the best performing growth fund for the year, returning 12.8 per cent, followed by Aon Balanced Growth (10.8 per cent), REST Super Core, and VicSuper FutureSaver Growth (both 10.3 per cent), and Energy Super Balanced (10.2 per cent).
Growth assets produced generally poor results over the month of January with Australian equity performing the best at -0.8 per cent, followed by global listed property -1.0 per cent, global equities -2.4 per cent, and Australian listed property at -4.8 per cent.
CBUS was the best performing MySuper option over the year to 31 January 2017 at 11.6 per cent, followed by Russell Balanced (11.4 per cent), AustralianSuper Balanced (11.3 per cent), and REST Super Core (10.3 per cent).
The best-performing balanced (40 to 60 per cent growth assets) super funds over the same period were Optimum Balanced Growth at 8.4 per cent, Energy Super Capital Managed at 8.2 per cent, and REST Super Balanced at eight per cent.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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