Australian superannuation growth funds generally recorded minor gains over August with the median fund returning 0.3 per cent for the month, according to Morningstar.
Morningstar's superannuation survey found Energy Super was the best-performing growth fund for the year, returning 9.5 per cent, REI Super Balanced and AustralianSuper both followed at 8.1, Austsafe at seven per cent, and Optimum 6.8 per cent.
In terms of MySuper options, Energy Super Mysuper was the top performer over the year to August 2016 (9.5 per cent), followed by Hostplus Balanced (9.4 per cent), and CBUS Super Growth (9.3 per cent).
The survey found the best performing balanced super funds over the year were Australian Ethical Balanced (8.2 per cent), Energy Super Capital Management (eight per cent), and AustralianSuper Stable (7.25 per cent).
Growth assets had mixed results over the month with global equities as the top performer at 1.3 per cent, followed by Australian equities -1.6 per cent, global listed property -2.6 per cent, and Australian listed property at -2.8 per cent.
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.
just goes to show as usual, the Industry Super Funds absolutely kill the retail funds etc !! :-)
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