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Growth funds struggle to recoup March losses
Only three growth superannuation funds have made a return so far this year as funds have been unable to recoup losses induced by the global sell-off in March due to the COVID-19 pandemic, according to data.
FE Analytics data found its growth – mixed asset superannuation sector average since the start of 2020 to 31 October, 2020, was a loss of 4.09%.
The top-performing funds returned 3.37% which were Suncorp Brighter Super Multi-Manager Growth business and personal funds.
Commonwealth Superbond 2000 Managed Growth followed the two funds at 0.04%.
This was followed by CFS FS WPSup-Colonial First State Wholesale Balanced at a loss of 0.04% and VicSuper Future Saver Growth at a loss of 0.15%.
Top five performing growth superannuation funds v sector average since the start of 2020 to 31 October 2020
Source: FE Analytics
The other end of the scale saw six various AMP Capital Premium Growth funds at the bottom for the same time period with a range of losses from 20.42% and 17.18%.
Over the longer term, Australian Super High Growth Option topped the charts with a return of 47% over the five years to 31 October, 2020.
This was followed by Sunsuper Growth Option at 44.14%, CareSuper Growth at 42.3%, First State Growth Option at 40.08%, and QSuper Aggressive Option at 40%. The sector average of this time period was 22.7%.
Despite strong returns, none of the top five funds for this time period had managed to recoup losses from March.
The AustralianSuper fund was still down 6.03% from its high of 56.43% in mid-February.
Top five performing growth superannuation funds v sector average over the five years to 31 October 2020
Source: FE Analytics
The six AMP Capital Premium Growth funds were again all at the bottom of the charts with only one not making a return – AMP FLAP AMP Capital Premium Growth (-0.64%). The AMP funds’ returns ranged from -0.64% to 6.09% over the five years.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
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