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Super funds slump over November
Australian superannuation funds saw weak growth over November, with the median growth fund falling 0.3 per cent, while individual results varied from 0.4 to -1.3 per cent, the Morningstar Australian Superannuation Survey showed.
Median growth over the longer term was 6.3 per cent over the year, 11 per cent over the three years, and 8.6 per cent over the five years to 30 November.
Growth assets saw weak results over the month, with Australian listed property falling 2.9 per cent, global equities falling 2.1 per cent, and global listed property and Australian shares falling 0.7 per cent.
AMP Balanced Growth was the best performing super fund over the year to 30 November at 8.9 per cent, followed by AMP Capital Balanced (8.1 per cent), and REI Super Balanced (7.9 per cent).
The best-performing balanced (40 to 60 per cent growth assets) super funds over the year to November were BT Balanced Returns and Optimum Balanced Growth (both 6.7 per cent), and AMP Capital Moderately Conservative (6.3 per cent).
Meanwhile, multi-sector growth super funds' average allocation to equities at 31 October was 55.5 per cent, 26.6 per cent Australian, and 28.9 per cent global, while the average property exposure was 8.5 per cent.
Defensive assets were at 27.7 per cent on average (11.2 per cent domestic bonds, 8.1 per cent international, and 8.4 per cent cash).
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The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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ACS FIXED INT - AUSTRALIA/GLOBAL BOND
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1
Spire Oaktree Opportunities XI First Close USD
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2
Hills International
59.27 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
5
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32.01 3 y p.a(%)
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