Despite the volatility of July and August, superannuation fund returns have climbed back into positive territory, according to the latest data provided by Sydney-based ratings house SuperRatings.
The SuperRatings data suggests that while the sub-prime meltdown created problems for funds, there was a recovery in late August.
The SuperRatings analysis said the rally towards the end of August saw superannuation funds post a positive result, which wiped out the losses incurred in July.
It said the median balanced investment option posted a surprisingly strong gain of 1.31 per cent, predominately on the back of property exposure, which was up 3.97 per cent for the month, and international equities, which were up by 2.88 per cent.
The analysis said domestic equities had also recovered from their July losses to be up by 1.52 per cent.
The top performing funds for the 12 months to the end of August were MTAA Balanced returning 19.2 per cent, Catholic Super Fund Balanced returning 18.4 per cent, Statewide — Aussie Choice returning 18.1 per cent, Westscheme Trustee Selection returning 18 per cent and BussQ Balanced Growth returning 17.6 per cent.
