Strong six months drive super returns
|
|
A record six-month rally that strengthened through the closing months of last year ensured Australian superannuation funds finished the decade in reasonable shape, according to Sydney-based ratings house SuperRatings.
SuperRatings managing director Jeff Bresnahan said while 2008 had been the worst year on record, with the median balanced superannuation fund losing 19.7 per cent, funds had staged a comeback last year by returning 12.9 per cent.
However, he pointed to 2009 being a year of very different halves, with the fist six months being virtually flat while the second six months saw a rally of 12 per cent — the largest half-year result for super funds since the introduction of compulsory super in 1992.
The SuperRating analysis suggested that the main driver for the rally in the second half of 2009 was the Australian share market in circumstances where, while international equities had also performed well, many funds had remained underweight.
SuperRatings named the top performing balanced investment option funds over the past five years as being OSF Super — Mix 70, which returned 6.8 per cent, Buss(Q) — Balanced Growth, which returned 6.5 per cent, Catholic Super — Balanced, which returned 6.4 per cent, NGS Super — Diversified, which returned 6.2 per cent, Club Super Plus — Balanced Option, which also returned 6.2 per cent, Telstra Super Corp Plus — Balanced, which returned 6.1 per cent, Local Super — Growth Option, which returned 6 per cent, Australian Super — Balanced Option, which returned 6 per cent, Cbus —Core Strategy, which returned 5.9 per cent, and Unisuper Accum — Balanced, which returned 5.8 per cent.
AUTHOR
Mike Taylor
Recommended for you
Minister for Financial Services, Stephen Jones, has said he did not expect backlash to changes around advice fee deduction and believes the second tranche will have greater impact, committing to enact it by May 2025.
Financial adviser numbers are “back in black” for the year to date, thanks to 50 new entrants joining the industry over the last four weeks.
An equity partner firm of Count has purchased a Brisbane-based accounting business for nearly $1 million, as Count drives forward its inorganic growth momentum.
Australia’s looming intergenerational wealth transfer remains a crucial opportunity for financial advisers, with 14 per cent of consumers looking to transfer $1 million or more.
