The median superannuation growth fund recorded a respectable 9.2 per cent for the calendar year despite growth assets producing generally poor results, according to Morningstar data.
Morningstar’s survey found Maple-Brown Abbott was the best performing growth fund for the year, returning 12.8 per cent, followed by Aon Balanced Growth (10.8 per cent), REST Super Core, and VicSuper FutureSaver Growth (both 10.3 per cent), and Energy Super Balanced (10.2 per cent).
Growth assets produced generally poor results over the month of January with Australian equity performing the best at -0.8 per cent, followed by global listed property -1.0 per cent, global equities -2.4 per cent, and Australian listed property at -4.8 per cent.
CBUS was the best performing MySuper option over the year to 31 January 2017 at 11.6 per cent, followed by Russell Balanced (11.4 per cent), AustralianSuper Balanced (11.3 per cent), and REST Super Core (10.3 per cent).
The best-performing balanced (40 to 60 per cent growth assets) super funds over the same period were Optimum Balanced Growth at 8.4 per cent, Energy Super Capital Managed at 8.2 per cent, and REST Super Balanced at eight per cent.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.