Median balanced fund up 1.8% in August

18 September 2020
| By Jassmyn |
image
image
expand image

Superannuation funds posted positive gains for the fifth consecutive month in August thanks to market stability and continued momentum in shares, according to SuperRatings.

The research house found the median balanced option returned 1.8% in August, taking the financial year to date return to 2.9%. Over the year to 31 August, 2020, the median balanced option returned 0.8% but was down 2.4% since the start of 2020.

Growth and capital stable options gained 0.7% over the year to August.

The research house said economic recovery was highly dependent on infection rates and the gradual easing of restrictions across the country.

SuperRatings executive director, Kirby Rappell, said: “The theme for the second half of 2020 will hopefully be one of continued recovery, however this will likely be unevenly spread across markets and regions.

“The harsher lockdown conditions in Victoria will have a significant impact on long-term growth, and we expect more ups and downs in the market as the outlook evolves.”

The research house also found that the median pension option rose an estimated 0.9% over the year to 31 August, 2020, while the growth option was up 1% and the capital stable option up 0.9%.

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 1 week 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 1 week 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 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

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

3 weeks 1 day ago

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

2 weeks 5 days ago