Super funds down 7.5 per cent
Australian superannuation funds have felt the brunt of recent share market corrections with the worst-affected funds dropping in value by 7.5 per cent, according to new figures released by SuperRatings.
January’s share market correction flowed straight through to major super funds, the research firm claimed, with the median fund losing 5 per cent during the month and the most conservatively invested balanced options experiencing losses of 3.25 per cent.
In combination with a slow start to the financial year, SuperRatings anticipates that the January results will mean all major Australian super funds’ balanced options are in the red for the financial year.
However, despite the negative short-term results, most Australians are better off than they were this time last year, three years and five years ago.
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