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Super funds rebound at close of 2014
Super funds finished 2014 on a high note, according to SuperRatings, with the five year median growth rate at eight per cent.
In December 2014, the median balanced option improved 1.2 per cent, which lifted growth for the first six months of the 2014/2015 financial year to 4.9 per cent.
UniSuper's balanced fund led the charge, with a 10 per cent gain over 2014, followed by CSC PSSap - MySuper Balanced on 9.9 per cent and Intrust Super balanced on 9.7 per cent.
"2014 was another solid year for superannuation members and complemented the double digit returns of the past two years," SuperRatings founder Jeff Bresnahan said.
"Super funds also continue to meet their longer term objectives over five and ten year periods, which should provide some level of comfort for members."
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The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
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