Negative returns ahead for super funds
The chances of posting a positive return this financial year for superannuation funds is looking rather slim, having recorded a fourth straight month of losses in March. Figures from SuperRatings have shown that the median Australian balanced super fund has shed 0.81 per cent in March, taking total losses to 4.71 per cent. While the sharemarket bounced back 5 per cent in April, analysts predict there will be more volatility ahead in the coming months. Jeff Bresnahan, managing director of SuperRatings said “Even with a likely positive outcome for April, nearly all balance [fund] options will more than likely show negative returns at year-end, some for the first time in their 20-year history”.
Source: The Australian Financial Review