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Super funds regain momentum in October
A SuperRatings report revealed Australian superannuation funds regained momentum after falling to 0.6per cent in September, with the median balanced option charting a 1.2 per cent rise for the month of October and making the median return for the financial year to date to 2.9 per cent.
This is up from 1.6 per cent at the end of September, with returns over the 12 months to 31 October 2014 now sitting at 8.5 per cent.
Despite returns for calendar year 2014 remaining positive, at over 5 per cent, SuperRatings projected a fall for November, with the S&P/ASX200 recording a 2.9 per cent loss for the month to date.
SuperRatings expects the median fund to have experienced a 0.4 per cent drop in November so far.
The major driver of returns in October was Australian superannuation fund's weighting to Australian shares, seeing the median Australian Shares option rising 3.5 per cent, compared to a 4.4 per cent rise in the benchmark S&P/ASX 200 Index.
The top performing balanced option funds over the last 5 years to October 2014 were Kinetic Super with 9.5 per cent and AustralianSuper, REST and Telstra Super Corp Plus all with 9.2 per cent growth.
AUTHOR
Priya Prakash
Priya was Money Management and Super Review's Online Manager/Production Coordinator.
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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(%)
