Powered by MOMENTUM MEDIA
investor daily logo

Super funds return to pre-GFC levels

  •  
By
  •  
3 minute read

The latest report from SuperRatings has shown that Australian superannuation funds are now back in line with their pre-global financial crisis (GFC) peak at October 2007.

"This result has been a long time in the making but a strong September quarter, where the median balanced fund returned 4.3 per cent, provided the impetus needed to reach this milestone," the report said.

For the calendar year to date for 2012, the median balanced option has surged 8.2 per cent with the best performing funds returning close to 10 per cent in the past nine months.

"It may have taken a while, but despite difficult market conditions, it is great news for members to see the median fund back in line with the pre-GFC high," SuperRatings chairman Jeff Bresnahan said.

"While funds are still operating in a challenging environment, sustained momentum will allow members to re-engage with the benefits that superannuation will provide for their retirement."

==
==

The absence of negative news globally, particularly out of Europe, and a focus on upcoming United States presidential elections continued to be viewed as good news by markets, the report said.

For the second consecutive month, international share options were the best performer, with the median international shares option up 2.4 per cent.

Australian share options also provided a respectable 1.9 per cent return.