The Association of Superannuation Funds of Australia (ASFA) has urged superannuation fund members not to panic in the face of two consecutive years of negative superannuation fund returns.
ASFA chief executive Pauline Vamos said the recent events associated with the global financial crisis needed to be kept in perspective and that superannuation funds needed to remind members of the long-term nature of super investment.
“Markets are cyclical,” she said. “As with every other market downturn, there will be a recovery. This crisis will pass.”
Vamos said that among the issues superannuation funds needed to reinforce was that superannuation remained one of the most tax effective investment vehicles and strategies and that the Australian superannuation system remained robust, sufficiently liquid and well regulated.
