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Super growth funds return highest since 1993
Superannuation funds had a stellar 2013 with median growth funds returning 18 per cent over the calendar year, the highest since 1993.
The highest quarterly return was recorded in September at 5.1 per cent, while June held the lowest quarterly result at 2.3 per cent. The first quarter produced a solid 4.7 per cent, Morningstar Australian Superannuation Survey revealed.
Two negative medians were recorded over the year, with March at -0.3 per cent and June at 0.8 per cent.
Longer-term annualised returns were 9.2 per cent (three years), 9.6 per cent (five years), and 7.0 per cent (10 years to 31 December, 2013).
The survey, published today in interim form, looked at both commercial for-profit and industry superannuation options.
Growth assets were a mixed bag in December, with Australian listed property at -1.3 per cent, global listed property at 0.2 per cent, Australian shares at 0.8 per cent and international shares at 4.4 per cent.
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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(%)
