NEWS UPDATE: Super's ugly October
Superannuation fund returns moved further into the red during October, according to the latest SuperRatings data.
The data, released today, revealed the Australian share market had fallen 14 per cent during October and that the median balanced investment option for superannuation funds had experienced its highest-ever one-month fall of minus 6.65 per cent.
The ratings house said this had seen year-to-date returns decline by 9.36 per cent and the rolling 12-month return fall to an unprecedented minus 17.61 per cent.
The only bright spot for superannuation fund members is that if they look at five and 10-year results, they are still showing compound annual returns of 6.67 per cent and 6.37 per cent respectively.
AUTHOR
Mike Taylor
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