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Superannuation growth funds up in July
The Australian superannuation growth funds have recorded gains in July, with the median fund returning 2.4 per cent for the month, according to Morningstar.
The Australian Superannuation Survey, which covers the performance of the Australian retirement savings vehicles to July 31, 2016, revealed that the individual results ranged from 3.3 per cent to 1.6 per cent.
At the same time, median results over the longer term for growth funds were 7.9 per cent over three years, 9.3 per cent over five years, and 5.4 per cent over 10 years.
According to Morningstar's study, the best-performing growth fund for the year, was REI Super Balanced, which returned 5.5 per cent, followed by Energy Super Balanced (5.3 per cent), and AustralianSuper Conservative Balanced (4.9 per cent).
Apart from the super growth funds, growth assets also delivered positive results in July, with Australian equities being the best-performing asset class (6.4 per cent), followed by Australian listed property, global listed property and global equities.
Meanwhile, multisector growth superfunds' average allocation to equities was 56.3 per cent, 26.5 per cent Australian, and 29.8 per cent global, with the average property exposure at 9.5 per cent.
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