Australian superannuation fund members started the new financial year in negative territory, according to the latest data released by Sydney-based ratings house SuperRatings.
The data, released today, revealed that the median balanced investment option posted a 1.1 per cent loss for the month, taking the rolling 12-month return down to minus 6.7 per cent.
According to SuperRatings, Australian equities were the main culprit in July, declining by over 5 per cent.
SuperRatings pointed out that despite all the doom and gloom, the better funds had still delivered over 10 per cent a year to investors over the last five years.
