Median balanced fund up 0.5% in October

13 November 2020
| By Jassmyn |
image
image
expand image

The median balanced superannuation fund returned 0.5% in October, as Australian shares were up 1.9% during the month, according to SuperRatings.

However, the research house’s data found the median balanced option was still down 0.8% over the 12 months to October, 2020, as members still had not been able to fully recover their losses since the global sell-off in March.

The median growth option returned 0.6% in October and was down 1.4% over the year and the median capital stable option returned 0.3% in October and 0.5% over the 12 months to October.

In terms of pension funds, the median balanced pension option was up 0.6% in October and down 1% over the 12 months to October. The median pension growth option was up 0.7% in October and down 1.5% over one year, and the median capital stable pension option returned an estimated 0.3% in October and 0.5% over one year.

During the month, Australian shares were up 1.9% as easing of restrictions, low COVID-19 numbers, and the Federal Budget bolstered sentiment.

SuperRatings executive director, Kirby Rappell, said the super recovery had been faster and stronger than expected to date.

“There are clearly still significant risks and uncertainties, and we expect more market volatility heading into 2021, but overall members have reason to be reassured by the performance and resilience of funds’ portfolios this year,” Rappell said.

“Looking ahead, it really depends on what a ‘COVID-normal’ world looks like. Developments on the vaccine front are very promising, but things are still uncertain in terms of how we reopen safely and how long this will take. There will still be ups and downs heading into 2021.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

36 minutes ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

5 hours 23 minutes ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

23 hours 26 minutes ago