Super funds finish high despite June loss
Superannuation funds have returned a sixth consecutive year of positive results despite the largest monthly loss for the financial year in June, according to a SuperRatings report.
The research house found super funds finished the financial year up 9.7 per cent, but June finished down 2.1 per cent for the median balanced option.
SuperRatings founder, Jeff Bresnahan, said although market volatility in June prevented most funds from producing double-digit growth for the year, the 9.7 per cent return was still an impressive result.
The report said the Greek debt crisis, the volatile Chinese share market, and Australia's ongoing economy uncertainty caused most major asset prices to fall.
"Most funds, however, were successfully quarantined from even greater losses within investment markets, including a 5.3 per cent fall in the Australian share market, a three per cent decline in international shares, and a four per cent fall by Australian listed property in June," Bresnahan said.
"Although super funds lost ground in June, the diversification of most funds once again helped cushion even greater losses from most major asset classes."
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