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Super growth funds down in October
Australian superannuation growth funds fell in October, with the median fund returning to -0.7 per cent and individual results ranging from 0.4 to -2.1 per cent, thanks to poor growth asset results, according to Morningstar.
Global equities was the best-performing growth asset class returning -1.4 per cent, followed by Australian equities (-2.2 per cent), global listed property (-5.4 per cent), and Australian listed property (-7.9 per cent).
Morningstar found the median results over the longer term for growth super funds were 6.7 per cent over the three years, 9.5 per cent over five years, and 4.8 per cent over 10 years.
Energy Super Balanced was the best-performing growth fund and recorded returns of 6.2 per cent. It was followed by AustralianSuper Conservative Balanced, Optium Growth, and REI Super Balanced which returned 5.5 per cent, 5.2 per cent, and 4.9 per cent, respectively.
CBUS was the top MySuper performer in October at 6.6 per cent and was followed by Energy Super (6.2 per cent) and AustralianSuper Balanced (5.5 per cent).
Energy Super Capital Managed was the best-performing balanced (40 to 60 per cent growth assets) super fund at 5.9 per cent.
They survey also found defensive assets totalled 25.4 per cent on average and multisector growth super funds' average allocation to equities was 55.9 per cent while, at the same time, property exposure was 9.2 per cent.
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CFS has credited its investment team’s disciplined approach to managing volatility as a key factor in delivering strong returns for MySuper members.
TelstraSuper has announced a return of 12.67 per cent for its MySuper Growth investment option for the calendar year.
The Super Members Council (SMC) has called for a removal of the “outdated” 30-hour threshold for workers under 18 to guarantee all young Australian workers receive a super start to work.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
36.43 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
35.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.72 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
27.64 3 y p.a(%)
