Super returns strongly negative
Australian superannuation funds continue to languish in heavily negative territory, according to the latest data released by research house SuperRatings.
The data revealed that the median balanced superannuation option recorded a loss of 1.85 per cent for January.
And, according to Super Ratings managing director Jeff Bresnahan, apart from some government hand outs, there would appear to be no good news for any Australian who holds investments in anything other than defensive style assets like cash or fixed interest.
He said sharp declines in the Australian equity and listed property sectors in January led balanced super fund options backwards and assisted in dragging the rolling three-year return for these options to a negative 1.86 per cent a year.
Bresnahan said in financial year to date terms, the median of minus 15.10 per cent for balanced options meant only a major financial miracle could prevent Australians from suffering their second consecutive negative financial year return after losses of 6.4 per cent in 2007-08.
AUTHOR
Mike Taylor
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