Superannuation funds had their best-performing year in 2013, with the median superannuation balance option increasing by 15.5 per cent for the calendar year, SuperRatings' estimates have shown.
These are the best results since SuperRatings began tracking this index in 2000.
Despite a poor start, December's late rally saw super funds record an estimated 0.9 per cent gain for the month.
The strong recovery in the second half of December was mainly driven by the performance of listed equity markets.
Both Australian and international equity markets recovered strongly to finish positive for the month.
The S&P/ASX 200 Index closed higher in five out of the last seven trading days to end the year, and finished December up 0.6 per cent.
The fall in the Australian dollar over the month also helped international equity returns for those funds that remain in an unhedged position.
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.