Super returns clawing back
Stronger markets in April and May might allow some Australian superannuation funds to end the current financial year back in the black, according to the latest data released by Sydney-based ratings house SuperRatings.
According to the managing director of SuperRatings, Jeff Bresnahan, balanced superannuation fund returns rode the back of a surging Australian share market in April to post their first positive month since October last year, with the median balanced investment option posting a 2.23 per cent gain for the month.
He said this gain meant that the median financial year to date loss of the median fund has now been reduced to just 2.88 per cent.
Bresnahan said that with further strong share market gains so far in May, there was now a glimmer of hope that the median balanced super fund might be able to provide members with a positive outcome for the financial year.
According to the SuperRatings data, the best performing funds for the three years to April 30 were MTAA Super balanced with a return of 14.4 per cent, followed by Westscheme Trustee’s Selection with 13.1 per cent, Cbus Core Strategy with 12.5 per cent and Buss Q Balanced Growth with 12.4 per cent.
AUTHOR
Mike Taylor
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