Industry superannuation funds have achieved 3.45 per cent over the 2015-16 financial year, outperforming retail funds by 1.71 per cent according to data from SuperRatings.
The data shows industry funds outperformed bank-owned super funds by around 2.2 per cent over the past 10 years, and Industry Super Australia deputy chief executive Robbie Campo says the “sustained” outperformance can be attributed to “governance arrangements” and differing investment approaches.
Ms Campo says the approach industry funds have toward asset allocation has assisted in improving member returns in the current economic environment.
“In the current difficult investment climate these factors have served members’ interests well,” she said.
Recently, Chant West director Warren Chant noted that superannuation returns for the most recent financial year were significantly lower than the previous three years, a fact supported by the SuperRatings data, which puts the rolling three-year returns for industry funds at 8.76 per cent, markedly higher than this year’s average return.
Returns for bank-owned super funds for the 2015-16 financial year were 1.74 per cent.
APRA has announced that it will watch super funds more closely and has not ruled out naming and shaming underperforming funds. ...
The head of Australia’s largest industry superfund has warned of the significant changes afoot for those working with other people’s ret...
AMP has reported seeing a spike in queries about early access to super in February. ...