After a disappointing start to the year, super funds have posted a second consecutive positive month and are edging closer to a positive financial year result. Following a rise of 1.8% in March, the median growth fund (61 to 80% allocation to growth assets) gained another 1.4% in April. That takes the return over the ten months of the financial year to date to 1.7%.
Key highlights include:
– We estimate that the median growth fund is up a little over 1% so far in May, so with only six weeks remaining we’re now sitting at about 3% for the financial year to date. That means it’s slightly better than an even money bet that we’ll see a seventh consecutive positive year.
– It’s pretty certain we’re not going to see a result as strong as the previous three years (15.6% in 2012/13, 12.8% in in 2013/14 and 9.8% in 2014/15), but members shouldn’t be too disappointed with anything in positive territory.
– Industry funds and retail funds performed broadly in line with each other in April, returning 1.5% and 1.4% respectively.
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