The nation’s largest superannuation fund, the $180 billion AustralianSuper, is expected to finish the most turbulent year in financial markets in living memory with a “broadly flat” return to members.

Despite the steepest bear market on record, the freezing of credit markets and a widespread economic shutdown aimed at preventing the spread of COVID-19, AustralianSuper chief executive Ian Silk said the fund would hit an annual return for the financial year of “plus 1 per cent or minus half a per cent, depending on what happens”.