No autumn ‘fall’ for investors

Financialmarkets provided investors with some respite in March, with the median fund manager in theInTechgrowth survey returning 1.64 per cent over the month.

However, returns for the year to date remain deeply negative, with the median manager returning -6.07 per cent for the financial year to date and -3.38 per cent for the calendar year to date.

These figures are ominous for superannuation fund members given that the majority of superannuant assets are held in fund manager growth options and are likely to increase the level of criticism of super as a retirement savings vehicle.

According to the survey, super funds will be challenged “not only to explain the year-on-year negative returns to their members, but to also maintain faith in their superannuation fund’s investment strategy”.

All managers made it into positive territory for the month with value managersMaple Brown AbbottandTyndallthe best performers with returns of 2.11 per cent and 2.08 per cent respectively.

The worst performing managers wereColonial First StateandMerrill Lynchwith respective returns of 0.93 per cent and 1.23 per cent.

InTech attributed the year’s poor performance to the “proverbial pummelling” taken by international shares, which are down 22.8 per cent for the financial year to March 31.