Industry funds and master trusts tied for super honours
By Michael Bailey
NOT-for-profit super funds and commercial master trusts were equally represented among the best performing publicly available retirement products in 2004.
According to figures from SuperRatings, the commercial funds were helped by their relatively higher weightings to Australian equities and listed property trusts, as Citigroup’s balanced corporate master trust tied with industry fund REST’s diversified option for top 2004 honours, returning 17.1 per cent.
The next best publicly offered super products were both from industry funds, MTAA’s balanced fund and Asset Super’s medium growth fund — which returned 16.6 per cent — but Asgard’s balanced fund finished fifth with 16.4 per cent.
There were five commercial master trusts among the best 11 public offer performers.
Across all super funds, including those not publicly available, West Australian public servants had reason to smile as two accumulation options from WA’s Government Employees SuperBoard (GESB) finished in the overall top 10.
GESB’s growth accumulation fund was best of all, returning a gross 17.6 per cent, albeit helped slightly by the fact that GESB members don’t pay tax on investment returns.
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