Strong currency and global equity market returns have driven super funds with AustralianSuper's balanced investment option returning 10.86 per cent over the past year.
The option in which over 80 per cent of the super fund's members invest in had its third year of double-digit returns. Over ten years the option has returned an average of 7.3 per cent each year.
Deputy chief executive and chief investment officer, Mark Delaney, said the returns were driven by reasonable returns from US, European, and Japanese equity markets boosted by the strength of foreign currencies against the Australian dollar.
This was coupled with strong returns from property and infrastructure, and modest returns on fixed income and cash.
"This strong result shows the benefits of AustralianSuper's increased focus on active and internal management of assets," Delaney said.
The balanced option holds almost $64 million of the members' retirement savings.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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