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Superannuation funds on top of GFC downturn
Superannuation funds are on their way to the best returns since 2009, according to SuperRatings.
The ratings houses reported a 0.9 per cent return for the median growth fund in October, the ninth consecutive positive monthly result for the industry.
SuperRatings said the year's strong performance had been buoyed by local and international share markets.
"Barring a market meltdown in the last six weeks of the calendar year, it looks like Australians will enjoy their best return since 2009, which will easily outpace inflation and be some 10 per cent higher than the -1.9 per cent loss posted during the course of 2011," SuperRatings said.
October's result was a consequence of the strong performance of Australian shares which returned 2.9 per cent, Chant West said, while SuperRatings reported a 2.5 per cent return.
Listed property also had a stellar month, with Australian and global REITs returning 5.3 per cent and 1.6 per cent respectively, according to Chant West.
International shares was the only poor performer in October. SuperRatings said they were down -0.3 per cent, while Chant West said international shares took a -0.6 per cent dive on unhedged terms and -0.5 per cent hedged.
Investors had started to move away from share markets again in November, the ratings houses reported.
SuperRatings said this had led to a 1 per cent loss for super funds so far this month, with the calendar year-to-date return sitting at 8.3 per cent.
Chant West said uncertainty regarding global economic conditions was the cause of the downturn in share markets.
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26.81 3 y p.a(%)
