CFS balanced superannuation funds have dominated the first quarter returns of 2021 with the top performing fund returning 4.5%, according to data.
FE Analytics data found CFS FirstChoice Multi-Index Moderate was the top performer, followed by CFS FC WS PersonalSuper FirstChoice Multi-Index Moderate (4.44%), and CFS FC PersonalSuper FirstChoice Multi-Index Moderate (4.39%).
Responsibly invested AMP SuperLeader AMP Responsible Investment Leaders Balanced (now called AMP Capital Ethical Leaders Balanced) followed at 3.75%, and ANZ Smart Choice Super Legg Mason Diversified at 3.74%.
The sector average for the three months to 31 March, 2021, was 2%.
Top performing balanced superannuation funds during Q1 2021
Source: FE Analytics
On the other end of the scale, there was only one fund that lost returns – AXA Flexible Income Plan Matched Portfolio lost 0.67%.
Over the longer-term, it was AMP SIGS MySuper Macquarie Balanced Growth that performed the best at 52.95% over the five years to 31 March, 2021.
Two CareSuper funds followed – CareSuper Balanced and CareSuper Sustainable Balanced – at 51.91% and 51.76% respectively, and Australian Ethical Balanced Accumulation at 50.96% and AMP SignatureSuper Macquarie Balanced Growth at 50.18%.
The sector average over the five years at 32.25%.
Top performing balanced superannuation funds over the five years to 31 March 2021
Source: FE Analytics
There is a need for Australia’s superannuation funds to simplify their investment menus, according to the firm, given over a third of funds have more than 30 options, of which one or more are “arguably subscale”.
The research house is set to offer research ratings of superannuation funds for the first time amid growing demand from financial advisers.
Treasury is calling for submissions on its draft regulations in relation to the calculation of the proposed Division 296 tax.
Initially intended to offer a “simple, cost-effective” option for Aussies invested in default fund options, a super consultant has weighed in on what the scheme has actually done for members.
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