Double-digit returns for super

cent/superannuation-funds/

17 July 2014
| By Malavika |
image
image
expand image

Superannuation funds racked up double-digit returns on average over the 2013/14 financial year despite a dreary June performance.

The median fund in the Morningstar Multisector Growth universe returned 12.9 per cent, while the June return was at a mere 0.1 per cent.

Legg Mason Growth (18.8 per cent) came out on top among growth super funds over the 2013/14, followed by Legg Mason Balanced (15.9 per cent), MLC Growth (14.7 per cent), Maple-Brown Abbott (14.2 per cent), and Perpetual (13.8 per cent).

However June was the highest performing month for median growth fund, which finished at 3.2 per cent.

But it dipped into negative territory in January (-0.1 per cent) and March (-0.4 per cent).

Among balanced super funds, BT Balanced returned 11.8 per cent, while AMP Moderate Growth returned 10.8 per cent and Energy Super returned 10.7 per cent.

Meanwhile, multi-sector growth super funds' average allocation to equities at 31 May was 56.5 per cent, with 29.9 per cent Australian and 26.6 per cent global.

Defensive assets stood at 24.4 per cent on average, with 10.2 per cent domestic bonds, 6.1 per cent international, and 8.1 per cent cash.

Legg Mason Growth had the highest allocation to Australian shares (48.5 per cent), followed by Legg Mason Balanced (40.8 per cent), and State Super Growth (38.1 per cent).

International shares finished on top (20.4 per cent), with Australian shares at 17.2 per cent, international property at 15.8 per cent and Australian property at 11.1 per cent.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS