Members concerned about super losses
Extreme market volatility could see superannuation funds post a loss in the current financial year. The latest results from SuperRatings show that the average fund has lost 3.3 per cent over the first seven months of the current financial year, while January saw the largest losses in eight and a half years. Super funds are outperforming the sharemarket though which has fallen 11.3 per cent since the start of this year and is 17.7 per cent below its peak in November. After delivering returns of 72 per cent over the last five years the drop has caused an increase in the number of enquiries being made to funds by concerned members, particularly younger people who have never experienced negative returns on their investments.
Source: The Australian Financial Review