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Super back in the black
Australian superannuation returns are headed solidly back into the black, according to the latest data released by Sydney-based ratings house SuperRatings.
The SuperRatings data reveals that the average median balanced-option super fund returned 9.27 per cent in the September quarter, but remained slightly negative at minus 0.79 per cent for the 12 months to 30 September.
However, SuperRatings managing director, Jeff Bresnahan, predicted the 12 month data would return to positive territory on the back of October returns.
Bresnahan said the situation could be put into perspective when it was considered that the average Australian superannuation in a balanced option was now sitting in exactly the same spot they were three years ago.
“If you look at all super fund returns since the introduction of compulsory super in 1992, we have never seen such volatile returns as we have over the last two years,” he said.
Bresnahan said that while Australian equities had been the key driver for super fund returns over the past seven months, they had been the sector to avoid in 2008.”
According to the SuperRatings data, the top-performing balanced option fund over the past five years was OSF Super — Mix 70 with a return of 7.5 per cent, followed by Catholic Super — Balanced with a return of 7.3 per cent, Club Plus Super — Balanced Option with a return of 7.1 per cent, then Telstra Super Corp Plus — Balanced with a return of 6.9 per cent and Buss(Q) Balanced Growth, also with 6.9 per cent.
AUTHOR
Mike Taylor
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