The Australian superannuation growth funds have posted gains in May, with the median fund returning 2.3 per cent for the month, according to Morningstar.
The Australian Superannuation Survey, which covers the performance of the Australian retirement savings vehicles to May 31, 2016, revealed that the individual results ranged from three per cent down to one per cent.
At the same time, median results over the longer term for growth funds were 8.4 per cent over the three years, and 8.6 per cent and 5.4 per cent over the five and 10 years, respectively.
According to Morningstar’s study, the best-performing growth fund for the year, returning 3.8 per cent, was AustralianSuper Conservative Balanced, followed by Energy Super Balanced (3.7 per cent) and Care super Balanced (3.5 per cent).
As far as the balanced superfunds were concerned, the best-performer for the year in May was Australian Ethical Balanced (6.2 per cent), followed by AustralianSuper stable (4.1 per cent) and Energy Super Capital Guaranteed (3.4 per cent).
A Morningstar’s study found that, apart from the super growth funds, growth assets also delivered positive results in May, with global equities being the best-performing asset class (six per cent), followed by Australian equities, Australian listed property, and global listed property.
Meanwhile, multisector growth superfunds’ average allocation to equities was 54.2 per cent, 27.4 per cent Australian and 26.8 per cent global, while the average property exposure was at 9.2 per cent.
