Super returns closing on record
Jeff Bresnahan
Australian superannuation funds are now well on their way to generating a further round of double digit returns for members, according to the latest data released by Sydney-based ratings firm SuperRatings.
SuperRatings managing director Jeff Bresnahan has even suggested that it is possible that returns for the current financial year may emerge as the best in a decade.
The SuperRatings analysis said booming markets across virtually all main asset classes in April had helped take the median balanced super return to 13.53 per cent for the 10 months to the end of April — just 1 per cent below last year’s final industry median, which was the highest since the late 1990s.
SuperRatings said the month’s “stellar” 1.7 per cent gain after fees and taxes had been driven by strong gains in domestic equities (up 2.7 per cent), property (up 2.11 per cent) and international shares, which had gained 1.61 per cent during the month.
According to SuperRatings, Catholic Super emerged as the leading balanced investment option fund, with a return of 17.2 per cent for the 10 months to April 30, followed by Telstra Super Corp Plus with 15.8 per cent, Legg Mason with 15.6 per cent, Navigator SuperSolutions with 15.5 per cent and NGS Super Diversified with 14.8 per cent.
AUTHOR
Mike Taylor
Recommended for you
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.
