One of the smallest absolute return focused superannuation funds has made the highest return during the first quarter of 2021 and had the second-highest returns over the last decade, according to data.
According to FE Analytics, the CFS FC Personal Super – Acadian Global Equity Long Short fund returned 12.22% over the three months to 31 March, 2021, compared to the sector average of 3.92%. The fund was the third-smallest absolute return super fund at $5.4 million.
The fund was followed by CFS FC W Personal Super – Acadian W Global Equity Long Short (10.9 million) at 12.14%, Perpetual WF Super Perpetual Shareplus LongShort ($33.6 million) at 7.8%, AMP SignatureSuper Antipodes Global ($25.9 million) 7.13%, AMP Flexible Super Super Antipodes Global ($67.9 million) at 7.1%.
The largest absolute return fund, AMP Flex LifetimeSuper and CustomSuper Antipodes Global, at $81.9 million came in at sixth at 6.98% during the first quarter.
Top-performing absolute return super funds during Q1 2021
Source: FE Analytics
Over the 10 years to 31 March, 2021, four CFS funds made the top five performing funds with the sector average return of 57.25%.
The CFS FC W Personal Super – Acadian W Global Equity Long Short came in first at 234.15%, followed by CFS FC Personal Super – Acadian Global Equity Long Short 219.69%, CFS FC W Personal Super – Acadian W Australian Equity Long Short at 146.95%, Perpetual WF Super Perpetual Shareplus LongShort at 142.46%, and CFS FC PersonalSuper – Acadian Australian Equity LS at 131.26%.
The largest fund, AMP Flex LifetimeSuper and CustomSuper Antipodes Global came in at eighth at 112.52%.
Top-performing absolute return super funds over the 10 years to 31 March 2021
Source: FE Analytics
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.