POWERED BY MOMENTUM MEDIA
Super industry reaches $2.9trn
Superannuation assets increased 6.2 per cent to $2.9 trillion over the year to 30 June 2019 with the industry’s largest weighting towards international listed equities, according to Australian Prudential Regulation Authority (APRA) statistics.
Of which, MySuper products reached $755.9 billion over the same period, up 11.6 per cent, APRA’s latest ‘Quarterly superannuation performance statistics’ report found.
Self-managed superannuation fund assets rose 1.7 per cent to $747.6 billion.
Source: APRA
The report noted that over the June quarter APRA-regulated assets increased 4.3 per cent to $2.1 trillion.
While equities dominated allocation at 50.9 per cent ($1.8 trillion) – it was international listed equities that had the largest weighting at 24.4 per cent compared to Australian listed equities at 22.4 per cent, and four per cent for unlisted equities.
Fixed income and cash investments accounted for 31.4 per cent of investments with 21.6 per cent for fixed income and 9.8 per cent in cash. Property and infrastructure accounted for 14.2 per cent of investments while other assets including hedge funds and commodities accounted for 3.6 per cent.
Source: APRA
The report found the annual industry-wide rate of return for entities with more than four members for the year ending June 2019 was 7.3 per cent, and 7.3 per cent for the five-year average annualised.
Recommended for you
The proposed reforms have been described as a key step towards delivering better products and retirement experiences for members, with many noting financial advice remains the “urgent missing piece” of the puzzle.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
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
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
