Most Australian superannuation fund members have experienced a third successive year of positive returns, according to the latest data released by SuperRatings.
According to the data, the pre-Christmas rally experienced on the Australian Securities Exchange (ASX) saw calendar year returns for the median balanced option fund reach 7.5 per cent.
However SuperRatings chairman, Jeff Bresnahan said this return hardly held a candle to the 16.3 per cent return recorded in 2013 but ensured that returns exceeded the balanced options longer term objective of beating the consumer price index by around 3.5 per cent a year.
The SuperRatings assessment said that international shares had been a strong driver of returns over the period, with the MSCI World Index returning 3.3 per cent in US dollar terms, meaning that Australian funds benefited from the falling Australian dollar.
The SuperRatings analysis said that returns across the industry over the past 10 years were not at a median of 6.3 per cent a year.
"So, despite much doom and gloom being bandied around due to world issues, markets appear to be trying to find every positive reason available to move forward," the analysis said.
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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