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Super funds make strong start to 2016-17

Super funds make strong start to 2016-17

Reporter
— 1 minute read

The post-Brexit rally for Australian shares in July has helped superannuation funds get off to a strong start in 2016-17, says SuperRatings.

The median balanced superannuation option returned investors 2.7 per cent in July, according to the latest data from research house SuperRatings.

The 12-month period to 31 July helped the best performing super funds earn 7 per cent, a report from SuperRatings said.

The BUSSQ Premium Choice balanced growth fund returned 7 per cent over that period; Catholic Super returned 6.4 per cent; and UniSuper Accumulation (1) Balanced returned 6.1 per cent in the same period, said SuperRatings.

Jeff Bresnahan, SuperRatings chairman, said super fund members have endured one of the toughest years, in 2015-16, since the global financial crisis.

"Investors should remain hopeful, but they should also keep their wits about them. Many of the risks that have weighed on markets in recent months are still in play, even with Brexit behind us," Mr Bresnahan said.

"The unexpected RBA decision earlier this month [to cut the cash rate to 1.5 per cent] was a timely reminder that things are still very shaky," he said.

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Super funds make strong start to 2016-17
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