POWERED BY MOMENTUM MEDIA
Superannuation takes a dive: Morningstar
Australian superannuation funds have taken a dive in May after climbing up the returns ladder for four consecutive months, according to Morningstar's Australian Superannuation Survey to 31 May 2012.
The median return for the calendar year-to-date was 4.1 per cent for growth funds, while the financial year-to-date returned -0.1 per cent. May's median growth manager returned -2.4 per cent.
Australian growth assets produced negative results in May, with the S&P/ASX300 Accumulation Index returning -6.7 per cent, while international sharemarkets also lost ground returning -1.8 per cent.
Australian property securities returned -1.3 per cent in May - a better result than global property securities which returned -4.2 per cent contributing to the month's poor results for growth funds.
AustralianSuper made the most of a bad month for superannuation, attracting the highest returns among Australian superannuation funds.
AustralianSuper's growth fund returned -1.1 per cent in May, followed by AGEST at -1.3 per cent, Sunsuper at -1.4 per cent and BT with -1.6 per cent.
Over 12 months, AustralianSuper returned 2.2 per cent compared to AGEST at 1.6 per cent, REI Super at 1.2 per cent and Sunsuper at 1.0 per cent.
AustralianSuper's balanced fund also won out in May, returning -0.2 per cent, followed by AGEST at -0.2 per cent, Catholic Super at -1.1 per cent and Rest at -1.1 per cent.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
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(%)
