Super fund returns beat last year

Super funds averaged returns of 11.7 per cent in the eight months to February, more than two percentage points better than returns for the corresponding period last year, according to SuperRatings. Rises in offshore equity markets were the main reason for the strong performance. The top performing fund in the period was LUCRF – formerly the Labour Union Co-operative Retirement Fund – with 14.6 per cent. Telstra, GESB and the Victorian Independent Schools super funds were all also over 14 per cent.