Australian superannuation funds have bounced back into positive territory on the back of Australian listed property's standout performance among asset classes in May, according to a Morningstar survey.
The asset class posted a return of 29.7 per cent, followed by global shares (29.2 per cent), global listed property (14.8 per cent), and Australian shares (9.9 per cent).
The super funds returned a median growth of one per cent from a range of 1.6 to 0.2 per cent. Over the longer term, the medians were 12.4 per cent over the year, 14.1 per cent over three years, and 9.7 per cent over the five years to 31 May 2015.
The best performing growth super funds over the same period were Legg Mason Growth (17.4 per cent), AMP Balanced Growth (15.4 per cent), and BT Active Balanced (14.8 per cent).
The best performing balanced (40 to 60 per cent growth assets) super funds were BT Balanced Returns at 14.4 per cent, followed by AMP Moderate Growth at 11.2 per cent, and AMP Moderately Conservative at 11 per cent.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
Add new comment