POWERED BY MOMENTUM MEDIA
Super balanced funds rise in April
The median balanced superannuation fund rose 2.7% in April, recovering some losses from February and March, but funds on average have lost 8.1% since the start of 2020, according to SuperRatings.
The research house’s latest data found the rolling one-year return was a loss of 2.5%, the median growth options was down 9.7% since the start of the year and down 3.2% over the past year.
The median capital stable option was down 3.5% since the beginning of 2020 and was flat (0%) over the past year.
The median balanced pension option was down 8.5% since the start of 2020, while the median growth pension option fell 10.3%, and the median capital stable pension option was down 3.7%.
SuperRatings executive director, Kirby Rappell, said: “Markets appeared to show an eerie sense of calm, thanks in part to the fiscal and monetary response from the government and Reserve Bank of Australia, but also due to the success of social distancing and other measures in containing the virus.
“Happily, the conversation has turned to how we can safely reopen key sectors of the economy, but it would be fair to say apprehensiveness remains.”
Rappell noted the firm was having more conversations with funds to determine their level of preparedness should the situation deteriorate, and warned the biggest mistake members could make was to cash out and miss the recovery.
Recommended for you
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.78 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
30.80 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
28.31 3 y p.a(%)
