Top-performing super funds revealed for the 2018-19 financial year
The best-performing superannuation funds for the 2018-19 financial have been announced. Find out if your money is with one of the nation’s top funds.
The nation’s top-performing superannuation funds have been revealed for the 2018-19 financial year delivering some members returns just shy of double digits.
Super ratings firm Chant West’s results out today also found super funds have delivered a record-breaking 10th consecutive year of positive returns.
The best performing funds for the past 12 months included Brisbane-based fund QSuper’s balanced option and Melbourne-based fund UniSuper’s balanced option, both delivering returns of 9.9 per cent.
This means for a person with $100,000 in super at the beginning of the 2018-19 financial year their balance will have fattened to $109,900.
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QSuper has more than 577,000 members with more than $80 billion in funds under management and UniSuper has more than 400,000 members with $65 billion in assets.
Chant West determines a growth fund as having 61 per cent to 80 per cent of investments in growth assets such as shares and property.
Typically most Australians have their money invested in this type of fund.
The next-best performers including Media Super’s balanced option (8.8 per cent) and then AustralianSuper’s balanced option (8.7 per cent).
Chant West’s senior investment manager Mano Mohankumar said the returns were a great result for Australians hoping to see their retirement kitties grow.
“The median fund returned 7 per cent which is a good return,” he said.
“The typical return objective is to beat inflation by 3.5 per cent over the long term and it’s been received on the back of nine years where the average return was nine per cent.”
Mr Mohankumar said the underlying asset classes where super is in invested in were all in positive-returning territory.
This included Australian and international shares, bonds, cash, listed and unlisted versions of property and infrastructure and private equity.
Chant West’s results also showed for the worst-performing fund in their growth category a return of 4.3 per cent was delivered.
Rival super ratings firm SuperRatings highest-returning balanced option delivered the top spot to UniSuper balanced at 9.9 per cent, followed by QSuper balanced at 9.7 per cent, Media Super balanced at 8.8 per cent and AustralianSuper balanced at 8.7 per cent.
SuperRatings determines a balanced option includes growth styles assets between 60 and 76 per cent.
UniSuper’s chief investment officer John Pearce said the fund was “really pleased with the performance” that delivered solid returns to members.
“It’s human nature to focus on one-year returns — because we send statements out at the end of each financial year,” he said.
“We’re certainly pleased to be sitting at top spot, but we always counsel our members to look at the long term.
“We’re even happier to be in the top 3 funds for the 10 year returns.”
TOP 10 PERFORMING GROWTH FUNDS
1. QSuper Balanced 9.9%
2. UniSuper Balanced 9.9%
3. Media Super Balanced (MySuper) 8.8%
4. AustralianSuper Balanced 8.7%
5. Tasplan Balanced 8.6%
6. Sunsuper Balanced 8.6%
7. IOOF Balanced Investor Trust 8.2%
8. VicSuper Growth (MySuper) 8.2%
9. First State Super Growth 7.7%
10. PSSap MySuper Balanced 7.7%
Source: Chant West
Originally published as Top-performing super funds revealed for the 2018-19 financial year
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