Super funds continued their positive start to the new financial year with the median growth fund (61 to 80% growth assets) up 1% for the month of August. This brings the return for the first two months of the financial year to 2.2%.
Please see the attached media release for further information. Key highlights include:
- Funds continue to deliver on their promises at a time when there’s some debate over the efficiency of our superannuation system.
- Over the 22 plus years since the introduction of compulsory super, growth funds on average have gained 8% per annum which is well ahead of their typical return objective.
- Industry funds and retail funds performed broadly in line with each other in August, returning 1% and 0.9%, respectively. However, industry funds continue to hold a convincing lead over the longer term.
