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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.
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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(%)
