Super members to get nice surprise
The vast majority of Australia’s 12 million superannuation fund members will be smiling when they receive their superannuation statements in the next few weeks.
The vast majority of Australia’s 12 million superannuation fund members will be smiling when they receive their superannuation statements in the next few weeks.
Despite volatility in the share markets earlier this year, pooled superannuation funds re-corded one of their highest results in a decade, according to an Intech Performance Sur-vey.
The average return of the 33 funds in the survey was 13.1 per cent, the third highest result in a decade. Previous figures include 9.7 per cent for 1999 and 11.8 per cent at the same time in 1998.
The best performer over the year was Schroders returning 16.3 per cent, while ANZ’s return of 16.0 per cent gained second place and Credit Suisse returned 15.8 per cent in third place.
Colonial First State’s return of 15.6 per cent gave them fourth ranking and also earned the company its highest ranking on the back of strong out-performance in Australian shares.
At the other end of the scale, Hopkins Partner recorded a return of 3.1 per cent. Other stragglers included AM with 8.7 per cent, Macquarie with 9.0 per cent the two Salomon funds at 9.2 per cent and 10.5 per cent and Mercantile Mutual at 10.6 per cent.
The bond markets produced positive yet inactive returns.
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