Is your superannuation fund among the top 10 of 2023?

22 January 2024
| By Laura Dew |
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SuperRatings has shared the top 10 balanced superannuation funds of the calendar year 2023, with the top two funds returning more than 13 per cent each.

The research house estimated that the median balanced superannuation option delivered a 2.7 per cent return in December, and 9.6 per cent for the full 2023 calendar year.

This result fully recovered the -4.8 per cent loss from the previous year.

Balanced funds are those in the SR50 Balanced 60-76 Index and all of the top 10 funds returned more 10 per cent.

The top fund overall was Hostplus – Indexed Balanced which returned 13.2 per cent during the year, closely followed by Brighter Super Optimiser Accumulation - Multi-Manager Growth which returned 13.1 per cent. 

In third place was ESSSuper Balanced Growth which returned 12.8 per cent, CFS-FC Wholesale Personal – CFS Enhanced Index Balanced which returned 11.9 per cent, and Vision Super – Balanced Growth which returned 11.7 per cent. 

Third-place ranking ESSSuper – Balanced Growth (previously Basic Growth) had been the top-performing super fund during the 2022–23 financial year with the $34 billion fund seeing returns of 13.3 per cent during the financial year.

Australia’s two largest superannuation funds – AustralianSuper and Australian Retirement Trust – did not feature in the top 10, but the third-largest one Aware Super came in seventh place with returns of 11 per cent for its Future Saver Balanced option.

Top 10 balanced funds during 2023

Fund Annual returns to 31 December 2023
Hostplus – Indexed Balanced 13.2
Brighter Super Optimiser Accumulation - Multi-Manager Growth 13.1
ESSSuper Balanced Growth 12.8
CFS-FC Wholesale Personal – CFS Enhanced Index Balanced 11.9
Vision Super – Balanced Growth   11.7
IOOF Employer Super Core – MLC MultiSeries 70 11.4
Aware Super Future Saver – Balanced 11
GESB Super – My GESB Super Plan   10.7
TWUSuper Balanced 10.6
HESTA Balanced Growth   10.5

Source: SuperRatings, 19 January 2024

SuperRatings executive director, Kirby Rappell, said: “Members are likely pleased with this year’s performance, with most seeing a full recovery from last year’s losses. Long-term strategy and high levels of diversification continue to result in impressive long-term performance by those managing our retirement savings. 

“As we look ahead to what 2024 might bring for super fund returns, ongoing uncertainty means it remains important to set a strategy and stick with it despite the potential for periods of falling balances.”


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