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Balanced funds up 2.1% in April
The median balanced superannuation fund rose 2.1% in April and has returned 14.5% over the 2020-21 financial year-to-date, as the rebound in financial markets during the second half of 2020 has continued through the start of 2021, according to SuperRatings.
The research house said the solid performance was off the back of an improving economic situation and confidence in state and federal vaccination plans.
SuperRatings data found the median growth option rose 2.6% in April and the median capital stable option rose 1%. During the month, the median balanced pension option returned 2.3% and 15.7% over the financial year to date. The median pension growth option returned 2.7% in April and the median capital stable option rose 1.1%.
SuperRatings executive director, Kirby Rappell, said: “Confidence is back, and consumers have so far shrugged off the unwinding of the JobKeeper program, but the pandemic is still with us, which means super members should expect markets to remain volatile.
“The Federal Government has doubled down on its expansionary fiscal strategy, which will continue supporting the economy as some of the temporary spending measures come to an end. Our relative success in managing the pandemic has meant we can stay open and prevent longer-term scarring to businesses and the labour market.”
Pointing to the Federal Budget that was handed down last week, Rappell said SuperRatings was pleased to see the government reaffirm its commitment to the legislated superannuation guarantee increase to 12%.
He said this and other measures announced took important steps “towards ensuring everyone can retire with adequate savings, especially women and those who have been severely impacted by the pandemic”.
SuperRatings noted that while the budget had taken steps to close the gender gap, there were super funds that had implemented initiatives to provide more flexibility for women and parents.
These funds were:
|
Fund |
Initiative |
|
CareSuper |
Members on employer approved parental leave can request a waiver of their insurance fees for death, TPD and income protection insurance for up to 12 months. This means, if you’re eligible, your insurance cover can continue while you’re on parental leave at no cost to you. |
|
Cruelty Free Super |
Offers BabyBump – a refund of the weekly member fee for the time you’re on parental leave, up to a maximum of 12 months. |
|
Future Super |
Future Super supports those on parental leave through a program called Baby Bump. Baby Bump is a refund of all or part of the annual dollar-based administration fee for the time you’re on parental leave, up to a maximum of 12 months ($93.60). |
|
Grow Super |
GROW’s Fee Free Super removes fees for eligible new parents. Approved members who are primary carers will pay $0 superannuation fees for 6 months! Members can apply up to 12 months after the birth of their child. |
|
HESTA |
Every HESTA member can get up to a 12-month break from paying insurance fees while they’re on parental leave. |
|
Hostplus |
Hostplus members can enjoy Insurance cover without the cost for up to 12 months of parental leave. |
|
Verve Super |
Verve members who take parental leave after the arrival of a new child, whether by birth or adoption, can apply for a rebate of the annual fixed administration fee for up to 12 months. Verve can also contact your employer, or support you, to ask them to keep paying your super during your parental leave. |
|
Virgin Super |
Virgin Super Plus offers a Baby Break to members on maternity or paternity leave for up to 12 months. A Baby Break is a discounted asset-based administration fee for up 12 months for eligible members. |
Source: SuperRatings
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
