Superannuation fund performance slips in May
The average return of the median growth superannuation fund has fallen 2.3 per cent in May but there is still a chance of a positive financial year return, according to the latest research from Chant West.
Chant West director Warren Chant said members can, at best, return a figure that is marginally in the red in a year characterised by global share market fears spurred on by reports of Greece's possible exit from the Eurozone and a slowdown in China and the United States.
He said funds are generally well diversified into other assets and are resilient enough to ride the current downturn.
For the past 12 months more conservative categories - those with 21 to 40 per cent in growth assets - outperformed those with a larger proportion of growth assets, with returns dropping by 0.4 per cent compared to 3.3 per cent for a high growth (81 to 100 per cent in growth assets) approach, according to Chant West's multi-manager survey.
Additionally, for the financial year to the end of May, the performance rate of balanced and conservative strategies grew by 2.4 per cent and 4.1 per cent respectively, compared to -1.7 per cent for high growth.
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
