POWERED BY MOMENTUM MEDIA
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.
Recommended for you
A former property developer has been sentenced to eight years’ imprisonment for defrauding super investment funds, ASIC has confirmed.
The government wants greater transparency over super fund offerings and member outcomes in retirement phase at both an individual trustee and industry level.
AMP has reported a stable half-year result in superannuation, with improving cash flows and solid support from platforms and banking.
Implementing an unlimited non-concessional contributions cap for taxpayers with superannuation balances below $1 million would make the system more equitable, the accounting firm says.
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
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
