Growth funds the core of positive superannuation returns: Morningstar
Growth funds have experienced the best start to the calendar year in almost 20 years, according to Morningstar's interim Superannuation Survey.
Median growth superannuation funds hit 6.9 per cent for the calendar year-to-date, more than doubling their performance since the same time last year (2.7 per cent) and returning 0.4 per cent over the month to 30 April.
While international share markets dropped in April to return -1.7 per cent (MSCI World Ex Australia NR AUD), the S&P/ASX 300 Accumulation Index posted returns of 1.3 per cent, indicating the Australian sharemarket is still on the incline.
Australian property securities performed particularly well to return 5.5 per cent, while a 2.5 per cent return from global property securities helped the stellar performance of Australian growth funds in April.
The best-performing growth funds were REI Super (0.9 per cent), Maple-Brown Abbott (0.8 per cent), ASSET Super (0.8 per cent) and AustralianSuper (0.7 per cent).
AustralianSuper and REI Super were also among the top four performers for the year, although front-runner Perpetual returned 0.6 per cent more than closest competitor Invesco.
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