Australians' super savings dive

THE horror year for super funds is getting worse - with the average fund now down nearly 10 per cent.

THE horror year for superannuation funds is getting worse - with the average Australian's fund now down 9.1 per cent since January.

Research group SuperRatings says an average super account - invested in a balanced fund comprising shares, fixed interest and other assets - worth $50,000 on January 1, is only worth $45,540 today.

More than 70 per cent of Australians' super is invested in these types of funds.

More adventurous investors who put their super into growth funds have been hammered even harder. Their savings have lost 12.5 per cent this year, or $6250 on the average-sized fund.

CommSec equities economist Savanth Sebastian said this year had been one of the most turbulent on record.

"On 60 per cent of the trading days over 2008, the market has closed either 1 per cent down or 1 per cent up," Mr Sebastian said.

"In 2004 it was only 4 per cent," he said. Super funds will not begin to recover until this volatility disappears.

"However, the fundamentals remain good and with a long investment time frame you should come out on top."