TOP SUPER FUNDS TO END FINANCIAL YEAR ON A HIGH

Date 22/06/2017

The median Balanced option has returned 10.3% for the financial year to May, with recent market weakness in June the only barrier to ending the financial year in double digits. While returns have been relatively evenly distributed, some funds have managed to pull ahead of the pack, with the top three performing funds exceeding 12% for the financial year to date, with 5-year returns holding just above 10% p.a.

“Global shares have been the big driver of returns over the past year, supported by a fall in the Australian dollar through early 2017,” said SuperRatings Chairman Jeff Bresnahan. “Market momentum has been strong, and in the US and Europe we are still seeing markets pushing to record highs. Australian markets have benefitted from this momentum, but recently we have seen a noticeable pullback, with banks the hardest hit, and just this week we saw the largest single-day fall in the ASX 200 since November last year. So whether super funds can crack double digits this financial year could depend on how Australian shares perform in the final week.”

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$140 BILLION WINDFALL FOR AUSTRALIANS

Date 19/07/2017

Australians in mainstream superannuation funds are set for a windfall as SuperRatings exclusively reveals that the average fund return for last financial year topped 10.4%.

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