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
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
