Brogden comments on APRA quarterly super results
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Investor confidence will be strengthened by solid superannuation returns for the September quarter, according to Investment and Financial Services Association (IFSA) chief executive John Brogden.
Brogden said the Australian Prudential Regulation Authority (APRA) September 2009 Quarterly Superannuation Performance report, along with the latest IFSA CoreData investor sentiment survey, demonstrated that there would be a steady increase in the number of investors who believe the market for investments would improve in the next three months.
“The growth of total estimated assets by 10.6 per cent to a total of $1.2 trillion along with a combined rate of return of 9.4 per cent across sectors is also welcome news,” he said.
“The strong rate of return for retail funds at 10.4 per cent is pleasing to see. Significantly, the retail sector has outperformed some of the other industry sectors by as much as 2.3 per cent, a healthy lead by any measure.”
AUTHOR
Caroline Munro
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