Better news on super returns in March
Australian superannuation fund returns may finally start to recoup some of the serious losses incurred over the past 12 months, according to the latest data released by Sydney-based ratings house Super Ratings.
The new data pointed to another negative month of returns in February (down 3.66 per cent) but suggested that some of this was likely to be recouped in March due to a sharp rally in both Australian and international share markets.
It said balanced fund options might recoup as much as 4 per cent in March, which, if it happened, would effectively offset the losses of both January and February.
However, the ratings house said notwithstanding the better prospects in March, Australian super funds balanced options were still set to deliver a second successive year of negative returns and that these negative returns would most likely be in double digits.
AUTHOR
Mike Taylor
Recommended for you
Large AFSLs with more than 100 advisers are seeing the largest losses in both adviser and AFSL numbers as individuals seek a smaller, personal vision in their work.
Former deputy CEO of AMP Capital, David Atkin, has announced he will be returning to Australia after stepping down as chief executive of the Principles for Responsible Investment organisation.
A global Morgan Stanley report has found 83 per cent of Asia-Pacific individual investors would select a financial adviser based on their sustainable investment offerings, and are most understanding of how ESG can boost returns.
Insignia Financial has announced the status of the two private equity bidders as due diligence comes to an end, with one bidder opting to pull out.
