POWERED BY MOMENTUM MEDIA
Shares and currency push strong August super returns
Superannuation funds have continued their solid start to the new financial year, with the median growth fund backing up returns of 1.1 per cent in July with a further one per cent gain in August, according to data from Chant West.
This result largely stemmed from the continued strength of listed share markets and from currency markets. Australian shares were up 1.4 per cent for the month and international shares gained 1.3 and 4.1 per cent in hedged and unhedged terms, respectively.
Considering that the average super fund has about 70 per cent of its international shares exposure unhedged, that latter number is significant.
Listed property also delivered for investors, with Australian and international REITs gaining 2.6 and 1.2 per cent, respectively.
The research also found that a “meaningful” number of retail fund default members are now in lifecycle products, with a third of MySuper default money now being in the product. The performance of the lifecycle cohort is in the table below.
Median Retail MySuper Lifecycle Cohort Performance (results to 31 August, 2018)
Recommended for you
The central bank has served up a disappointment for punters on Melbourne Cup Day.
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
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
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
