Retail super beats industry funds in 2004

Superannuation funds produced their best returns in a decade during the 2004 calendar year, a survey of funds by Intech Investment Consultants has found. The median return for super funds with a “growth” mandate returned 15.5 per cent after tax and fees, almost double the return of 8.3 per cent in 2003. Even conservative funds, with an exposure of between 20 per cent and 40 per cent to the stock market, achieved a 9.7 per cent return. Invesco earned the highest returns among growth funds with 22 per cent, followed by Perpetual Balanced Growth fund (19 per cent) and BT Active Balanced fund (18.5 per cent). The top industry funds were NESS Balanced, returning 17.4 per cent, REST Diversified (17.1 per cent) and REI Balanced (16.6 per cent).