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Only 10 balanced funds make a return
Only 10 funds have made a return so far this year as most have not managed to recover losses from the global sell-off induced by the COVID-19 pandemic, according to data.
According to FE Analytics, the balanced superannuation fund sector average was a loss of 1.75% and only 10 funds out of 191 have made a return since the beginning of the year to 31 October, 2020.
Australian Catholic Super’s Australian MySuper Balanced Option fund was the top-performer with a return of 6.44%, 3% higher than the second-best returning fund.
Suncorp Brighter Super Personal Suncorp Multi-Manager Balanced fund came second at at 3.45%, followed by AMP SIGS MySuper Macquarie Balanced Growth at 3.24%, Australian Catholic Super Socially Responsible Option at 2.94%, and Amp SignatureSuper Macquarie Balanced Growth at 2.9%.
Top-performing balanced super funds v sector since the start of 2020 to 31 October 2020
Source: FE Analytics
According to Australian Catholic Super’s latest investment update, the fund said due to the COVID-19 pandemic it had reduced exposure to growth assets such as overpriced stocks prior to the virus.
The fund also said it increased investments in growth assets when these assets were sufficiently discounted following the fall in investment markets in March 2020, and decreased investments in growth assets following the market recovery as uncertainties posed by COVID-19 continued to be a risk.
Over the longer term, it was Australian Super Balanced Option which topped the charts at a return of 48.31% over the five years to 31 October, 2020.
AMP SIGS MySuper Macquarie Balanced Growth came in at second at 40.9%, followed by CareSuper Sustainable Balanced at 40.21%, CareSuper Balanced at 39.76%, and Suncorp Corporate Investment Super Balanced at 39.44%.
The average sector return for this time period was 21.7%.
However, none of the top-performing funds had managed to recover losses from the sell-off in March 2020.
Top-performing balanced super funds v sector over the five years to 31 October 2020
Source: FE Analytics
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
