Growth super funds produce solid year-to-date results

The median growth superannuation fund has returned 7.3 per cent year-to-date and the fourth straight month of positive performance, Morningstar's Australian Superannuation Survey has found.

For month ended 31 October, median growth funds — including both commercial for-profit and industry super options — returned 1.9 per cent.

Long-term annualised returns were 3.4 per cent (one year), 8.9 per cent (three years), 8.1 per cent (five years), and 6.9 per cent (10 years to 31 October).

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Legg Mason Growth (29.8 per cent) topped the best-performing growth super funds over the year, followed by Legg Mason Balanced (26.4 per cent) and Maple-Brown Abbott (22.3 per cent).

Over the past five years, Legg Mason Balanced (10.6 per cent) came out on top, followed by its growth option (10.4 per cent) and Schroders (10.2 per cent).

BT Balanced (15.8 per cent), STC Balanced (14.8 per cent) and REST Super Balanced (14.3 per cent) rounded the top three best-performing balanced options (40-60 per cent growth assets) for the year.

Growth assets produced positive returns over the month, with Australia shares producing 3.9 per cent; global listed property 3.6 per cent; Australian listed property 2.7 per cent; and international shares 2.6 per cent.

For growth super funds, average allocation to equities at 30 September was 58.2 per cent, 31.4 per cent Australian and 26.8 per cent global.

Legg Mason had the highest allocation to Australian shares at 54.4 per cent, followed by Legg Mason Balanced (47.8 per cent) and Equip Balanced Growth (45.0 per cent).

Average property exposure was 7.7 per cent while defensive assets totaled 24.5 per cent on average. This was split between 9.7 per cent domestic fixed interest, 6.0 per cent international fixed interest and 8.8 per cent cash.

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