Market rally boosts super fund returns

Australian superannuation fund managers have reported another month of positive returns, data from InTech show. The median growth-oriented fund returned 1.6 per cent in August, bringing the return for the 2003-04 financial year to date to 3.9 per cent. Most of the 28 funds surveyed by InTech are now making positive returns over three years, which Intech says demonstrates the wisdom of investors sticking to long-term strategies.