Super returns ride roller-coaster
Superannuation returns continue to ride the volatility roller-coaster, according to the latest data released by SuperRatings.
The data shows that while super returns moved back into positive territory in July after the negativity of June, they are destined to be below par again in August.
The SuperRatings data pointed to the median balanced fund being up 2.2 per cent in July, representing a turnaround from the two per cent fall in June.
But the ratings house noted that investment markets continued to be extremely volatile with losses in August, to date, already wiping out the July gains.
SuperRatings founder, Jeff Bresnahan, said the markets took a welcome upturn in July, with rising local and international shares adding strong returns for most super funds but the relief had been short-lived.
"So far in August we estimate the median Balanced Fund to be down 2.4 per cent, cancelling out the healthy July result," he said. "Just what the remainder of the month has in store will soon unfold, however, the diversification of most super options is keeping most people insulated against heavier losses in several key asset classes."
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
