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Super funds show growth in July: Chant West
Super funds median growth fund (61-80 per cent growth assets) grew 1.2 per cent for the month of July, following on from a 12.8 per cent return for the 2013/14 financial year.
Chant West data showed retail funds beat industry funds, returning 1.4 per cent against 1.2 per cent.
But industry funds beat out retail funds over a 15-year period, returning an annualised 7 per cent against retail funds' 5.8 per cent.
Chant West director Warren Chant said all five risk categories, from conservative to all growth, are ahead of its pre-GFC highs of October 2007.
Growth funds are 27 per cent above the pre-GFC high in October 2007, while the most aggressive all growth category is 17 per cent above its GFC high, Chant added.
"However, we do caution members that they shouldn't expect the double digit returns of the past two years every year," Chant said.
The data showed listed shares and property, which has an average weighting of around 57 per cent, had mixed results.
Australian shares rose 4.4 per cent, listed property rose 5 per cent, while global listed property climbed 1 per cent.
The one, three and five year median performance in fund categories from all growth to conservative reflected the robust performance of listed shares and property.
Aggressive fund categories, which invest more in these assets performed well.
But the seven year returns still seem to be held back by the ‘GFC-effect', Chant West's multi-manager survey showed.
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A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
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