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Industry superannuation fund returns look likely to have begun a more convincing recovery, with new data revealing that Australian unlisted property funds moved back into positive territory in the June quarter.
Many industry fund returns were undermined through the last financial year due to an exposure to unlisted property assets, but the latest Mercer/IPD Australian Pooled Property Fund Index has revealed a solid return to positive territory for the June quarter.
The index, released today, revealed a positive 2.1 per cent total return for the quarter, bringing the total return for the year to the end of June to 4 per cent after gearing and fees.
The index analysis noted that June had been the first quarter representing a positive annual return since November 2008.
Commenting on the index, IPD Australia and New Zealand managing director Anthony De Francesco said the June quarter return had highlighted that the Australian unlisted property funds sector continued to display improving investment performance.
However, he said that while returns had moved into positive territory, the upswing was likely to be more moderate due to relatively cautious investment conditions and a soft economic climate.
