Super fund returns near 10%
A survey of growth-based superannuation funds for the nine months to March 2004 showed an average return of 9.4 per cent, exclusive of tax and fees. The InTech Financial Services survey found that Westpac-owned BT Financial Group topped the list with a return of 14.3 per cent. Last in the list of 27 funds surveyed was Colonial First State returning just 7.57 per cent. InTech said funds with high exposure to Australian and international equities performed particularly well, but those favouring bonds had performed worse. If the Australian sharemarket continues as strongly as it has in the first three quarters, funds should return an average 11 per cent-plus for the 2003-04 financial year.