Typical balanced superannuation options rose 1.6% in August and 18.2% over the past year, according to SuperRatings data, despite 13 of the top 80 MySuper funds failing the Australian Prudential Regulation Authority’s (APRA’s) inaugural super performance test.
The research house’s latest data found the typical growth option rose by 1.9% in August and 18.2% over the last 12 months, while the median capital stable option increased by 0.7%.
Pension returns were also positive, with the median balanced pension option returning an estimated 1.7% over the month and 19.7% over the year.
SuperRatings chief executive, Kirby Rappell, said the assessment of the performance of funds had gained traction since the results of the performance test was released, and investors needed to look at more than just returns.
“It’s a good idea to consider a variety of factors such as fees, investment choices and insurance when deciding whether a fund is right for you,” Rappell said.
“This can range from ensuring the fund has an investment option that suits the level of risk you’re comfortable with to checking if there are specialist investment options such as a socially responsible option.”