Returns fall on balanced funds

Most balanced superannuation and investment funds lost money in March. The median balanced fund recorded a decline of 0.4 per cent in March, according to Mercer Investment Consulting and InTech Financial Services. Mercer said the median return for the financial year to date was 9.4 per cent, and was 13.8 per cent for the 12 months to March 2005. Perpetual Investments is the top-performing balanced fund manager for the financial year so far, with a return of 12.9 per cent. Ausbil Dexia ranked next with a return of 12 per cent. Ausbil Dexia and Perpetual have above average allocations to Australian shares and lower allocations to overseas shares.

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