The APRA Statistics Superannuation Fund-level Rates of Return report showed public sector funds had the greatest rate of return for members over the 10-year period, at seven per cent, followed by industry funds at 6.7 per cent and retail funds at 4.9 per cent.
AIST executive manager of policy and research David Haynes said the results revealed the significant strength of the not-for-profit superannuation industry.
“Looking at a fund’s performance over the longer term allows members to account for investment volatility and the statistics show that not-for-profit funds are outperforming their retail counterparts,” said Mr Haynes.
The five-year rates of return showed similar results, with all but six of the top 50 funds corporate, industry or public sector funds.
APRA statistics from the APRA Annual Superannuation Bulletin also indicated the number of women serving on superannuation boards increased from 16 per cent in 2006 to 22 per cent in 2013.
AIST executive manager of governance Eva Scheerlinck said the not-for-profit sector has been working hard to increase the number of women on super boards, but acknowledged there is still significant progress to make.
“Gender equity on super boards has been a target for our members since 2011 and we will continue to advocate strongly for greater diversity,” said Ms Scheerlinck.
“We actively encourage women in the super industry through programs such as Super Springboard – a program that provides participants with technical knowledge, skills training, a dedicated mentoring program and networking opportunities,” she said.
