Australian superannuation median growth funds returned a positive 7.5 per cent for the 2016 calendar year thanks to Australian listed property returning 13.2 per cent in December, according to Morningstar.
The research house's latest survey found Australian listed property was the best-performing growth asset class in December 2016, followed by Australian equities (11.8 per cent), global listed property (8.3 per cent), and global equities (7.9 per cent).
Maple-Brown Abbott was the best performing growth fund for the year, returning 10 per cent, followed by Care Super Balanced (9.4 per cent), Optimum Growth and Energy Super Balanced (both at 8.8 per cent), and HESTA Super Core Pool (8.4 per cent).
CBUS Growth was the top MySuper option over the year to 31 December 2016 at 9.6 per cent, followed by Care Super Balanced (9.4 per cent), and Energy Super (8.8 per cent).
The survey found the best performing balanced (40 to 60 per cent growth assets) super funds were Energy Super Capital Managed (7.3 per cent), Optimum Balanced Growth (7.1 per cent), and EISS Super (6.6 per cent).
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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