Median growth superannuation funds recorded a 10.5 per cent gain over the eight months of the financial year to date, research from Chant West has found.
Both retail and industry funds performed relatively in line with each other in February, returning 3.2 per cent and 3.1 per cent respectively.
However, industry funds continue to perform better over the long term, returning 7.3 per cent per annum compared to 6.2 per cent for retail funds over the 15 years to February 2015.
Strong returns have been driven by the robust performance of share markets in 2015, with Australian and international shares gaining 6.9 per cent and 5.9 per cent respectively.
“The typical growth fund has about 27 per cent of its assets in Australian shares and about 26 per cent in international shares, and these are the sectors that have driven the strong returns in 2015 so far,” Chant West director Warren Chant said.
“There were several factors that contributed to the positive share market sentiment in February, including a rebound in oil prices.
“We also saw improving economic data in the euro zone, and optimism over the impact of the European Central Bank’s newly implemented asset purchasing programme,” he said.
Whilst there is still concern over the economic recovery of the US, share markets remained strong, particularly in the tech sector, Mr Chant argued.
Mr Chant also noted that a further cut by the Reserve Bank to interest rates will provide added stimulus to the stalling Australian economy.
APRA has indicated it is considering collecting and publishing more data about the early superannuation release scheme, including details ar...
Two employees of an IOOF-backed super fund have stepped aside following the resignation of its boss, as the police investigate his role in a...
An analysis of early superannuation release applications by AMP clients has shown that women are withdrawing a greater proportion of their s...