Superannuation funds return to pre-GFC levels
Superannuation funds have finally hauled back the losses incurred during the global financial crisis, according to the latest data released by specialist ratings house SuperRatings.
In new data released this week, SuperRatings founder Jeff Bresnahan claimed Australian super funds were now "in-line" with their pre-GFC peak of October, 2007.
"It has been a long time in the making but a strong September quarter, where the median Balanced fund returned 4.3 per cent, provided the impetus to reach this milestone," he said.
Bresnahan said that in calendar year-to-date terms, the median balanced option had risen by 8.2 per cent, with the best-performing funds returning close to 10 per cent in the past nine months.
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.
