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Balanced super options up 1.6% in August
Typical balanced superannuation options rose 1.6% in August and 18.2% over the past year, according to SuperRatings data, despite 13 of the top 80 MySuper funds failing the Australian Prudential Regulation Authority’s (APRA’s) inaugural super performance test.
The research house’s latest data found the typical growth option rose by 1.9% in August and 18.2% over the last 12 months, while the median capital stable option increased by 0.7%.
Pension returns were also positive, with the median balanced pension option returning an estimated 1.7% over the month and 19.7% over the year.
SuperRatings chief executive, Kirby Rappell, said the assessment of the performance of funds had gained traction since the results of the performance test was released, and investors needed to look at more than just returns.
“It’s a good idea to consider a variety of factors such as fees, investment choices and insurance when deciding whether a fund is right for you,” Rappell said.
“This can range from ensuring the fund has an investment option that suits the level of risk you’re comfortable with to checking if there are specialist investment options such as a socially responsible option.”
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AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
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