Super funds down 7.5 per cent

super funds cent

26 February 2008
| By George Liondis |

Australian superannuation funds have felt the brunt of recent share market corrections with the worst-affected funds dropping in value by 7.5 per cent, according to new figures released by SuperRatings.

January’s share market correction flowed straight through to major super funds, the research firm claimed, with the median fund losing 5 per cent during the month and the most conservatively invested balanced options experiencing losses of 3.25 per cent.

In combination with a slow start to the financial year, SuperRatings anticipates that the January results will mean all major Australian super funds’ balanced options are in the red for the financial year.

However, despite the negative short-term results, most Australians are better off than they were this time last year, three years and five years ago.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 2 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 2 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 2 weeks ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

5 days 22 hours ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

3 weeks 5 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

4 weeks 1 day ago