Super returns headed for double digit FY
Australian superannuation fund members appear headed for their fifth consecutive year of positive returns following the global financial crisis, according to the latest data released by Chant West.
Chant West principal, Warren Chant said April returns had been driven by strong performances by listed shares and, in particular, listed property.
He said that in these circumstances and only two months out from the end of the financial year, it was almost certain that fund members would see a fifth consecutive positive annual return, most likely in double digits.
The Chant West data revealed that the median growth fund (61 to 80 per cent allocation to growth assets) gained 0.8 per cent in April - the eighth positive return in the 10 months of the year to date, pushing the financial year to date return to 11.4 per cent.
The Chant West analysis said that retail funds had just pipped industry funds in April, returning 0.9 per cent against 0.8 per cent for the month.
However it noted that industry funds continued to hold a convincing lead over the longer term.
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