Most Australian superannuation fund members have experienced a third successive year of positive returns, according to the latest data released by SuperRatings.
According to the data, the pre-Christmas rally experienced on the Australian Securities Exchange (ASX) saw calendar year returns for the median balanced option fund reach 7.5 per cent.
However SuperRatings chairman, Jeff Bresnahan said this return hardly held a candle to the 16.3 per cent return recorded in 2013 but ensured that returns exceeded the balanced options longer term objective of beating the consumer price index by around 3.5 per cent a year.
The SuperRatings assessment said that international shares had been a strong driver of returns over the period, with the MSCI World Index returning 3.3 per cent in US dollar terms, meaning that Australian funds benefited from the falling Australian dollar.
The SuperRatings analysis said that returns across the industry over the past 10 years were not at a median of 6.3 per cent a year.
"So, despite much doom and gloom being bandied around due to world issues, markets appear to be trying to find every positive reason available to move forward," the analysis said.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.