Statewide Super's MySuper default investment option has been rated as the top performer nationally over three years in the SuperRatings annual SR50 MySuper Index, with a rolling three-year return of 10.42 per cent after fees and tax.
The industry median for MySuper investment options stood at 8.41 per cent.
Chief executive, Richard Nunn, said the performance was on the back of strong returns from our managers in Australian shares, unlisted core property and infrastructure.
"Our pension investment options have also performed well, with six options ranking in the top quartile over three years," he said.
The next best performer in the index was UniSuper Accumulation — MySuper Balanced, returning 10.22 per cent, while corporate MySuper fund, Rio Tinto MySuper — Growth returned 9.43 per cent over the rolling three year period.
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.