Australian superannuation fund members look set to be rewarded by a fourth consecutive year of positive returns, according to the latest data from Chant West.
The research house said however that on current indicators, the calendar year result would fall below the 12.7 per cent a year average recorded over the past three years.
It pointed to the fact that following a loss of 0.3 per cent in November, the median growth fund (61 to 80 per cent growth assets) was up 5.7 per cent for the first 11 months of 2015 and noted that while the first half of December had been negative, the median return for the year still stood at an estimated five per cent.
The Chant West analysis pointed to continuing volatility in listed share markets as being the primary factor impacting returns Australian shares were down 0.7 per cent while hedged international shares were up slightly at 0.7 per cent.
It said the appreciation of the Australian dollar (up 1 cent to US$0.72 over the month) meant that the return in unhedged terms was actually down 2.1 per cent, while listed property also had a negative month, with Australian and global REITs down 2.8 per cent and 1.2 per cent, respectively.
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.
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