Super funds see subdued growth
Australian superannuation funds saw only small growth over the first quarter of 2014, with median funds returning 0.9 per cent over the three months, the Morningstar Australian Superannuation Survey showed.
Individual results varied from a high of 1.7 per cent to a low of 0 per cent.
Longer-term annualised median returns were 13.7 per cent (one year), 8.7 per cent (three years), 10.7 per cent (five years), and 6.8 per cent (10 years to 31 March 2014).
Allocation to equities at the end of February was 57 per cent — 30.3 per cent Australian and 26.7 per cent global — while property exposure stood at 8.1 per cent.
Growth assets saw gloomy results in March, with Australian shares at 0.2 per cent, global listed property at 0 per cent, Australian listed property at -1.6 per cent, and international shares at -3.4 per cent.
International shares had the best finish over the year at 34.7 per cent, with Australian shares at 13 per cent, Australian listed property at 5 per cent and global listed property at 4.2 per cent.
Among super funds, Legg Mason Growth finished on top over the year to 31 March (18.7 per cent), followed by REST Super Diversified (16.2 per cent), Legg Mason Balanced (15.9 per cent), and REST Super Core (15.6 per cent).
Legg Mason Growth also finished on top over five years (14.2 per cent), with Legg Mason Balanced at second (13.9 per cent) and Schroder's (12.3 per cent).
Defensive assets came to 25 per cent on average (11.1 per cent domestic fixed interest, 5.8 per cent international fixed interest, and 8.1 per cent cash).
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