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Super funds headed for double-digits in 2013/14
Superannuation funds now seem certain to end the current financial year in solid double-digit return territory.
The latest data released by Chant West has confirmed super funds recorded another positive month in May, with the median growth fund (61 to 80 per cent allocation to growth assets) gaining 1.1 per cent.
According to Chant West principal, Warren Chant, with only one month remaining, the cumulative return for the current financial financial year stands at 12.6 per cent.
He said this would represent a fifth consecutive positive annual return.
Chant said global shares and property had been the main drivers of performance in May with international shares gaining 2.3 per cent hedged terms and 1.5 per cent on an unhedged basis, while international listed property was up 3.2 per cent.
By comparison, domestic equities rose 0.6 per cent for the month, while local listed property was flat.
The Chant West may data showed retail funds just edged ahead of industry funds, returning 1.2 per cent against 1 per cent, with Chant noting that industry funds continued to hold a convincing lead over the longer term.
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