Super funds enjoy returns from domestic and international shares
Super funds are contining to record positive growth with help from the share market and oil prices, according to superannuation research firm Chant West.
Australian shares increased by 6.9 per cent last month, while international shares rose 5.9 per cent in hedged terms and 5.3 per cent unhedged.
"There were several factors that contributed to the positive share market sentiment in February, including a rebound in oil prices," Chant West's director, Warren Chant, said.
Chant said that a 27 per cent of a typical growth fund were in Australian shares, and 26 per cent in international shares.
"We also saw improving economic data in the Euro zone, and optimism over the impact of the European Central Bank's newly-implemented asset purchasing programme. Easing of concerns surrounding Greece and Russia also helped the market's mood," he said.
The report also said that the median growth fund (61 to 80 per cent growth assets) rose 3.1 per cent in February, following a two per cent rise in January.
Listed property was mixed with Australian real estate investment trusts (REITs) up 3.7 per cent and global REITs down 0.7 per cent.
The firm also found that retail funds and industry funds had a return of 3.2 per cent and 3.1 per cent respectively in February.
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