Four consecutive months of negative returns
Australian superannuation fund members have suffered the fourth consecutive month of negative returns, according to the latest data released by Sydney ratings house SuperRatings.
The SuperRatings data, released today, reveals that the average Australian balanced super option lost 0.81 per cent in March, bringing financial year to March 31 losses to 4.71 per cent.
According to SuperRatings managing director Jeff Bresnahan, not even a healthier April will see superannuation returns end the financial year in positive territory.
“Even with a likely positive outcome for April, nearly all balanced options will more than likely show negative returns at year end, some for the first time in their 20 year history,” he said.
However, he said despite the short-term red ink, three and five year returns continued to hold up, with the median per annum returns being 9.3 per cent and 11.2 per cent respectively.
Looking at the five year per annum returns as at March 31, SuperRatings listed MTAA Super Balanced as the top performer with a return of 14.8 per cent for the period, followed by BUSSQ Balanced with a return of 13 per cent and Westscheme — Trustee Selection with a return of 12.6 per cent.
AUTHOR
Mike Taylor
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