Australia’s super funds on track to deliver double digit returns

Australia’s superannuation funds are on track to deliver double-digit returns for the 2017 calendar year, with share market gains through December for investors.

According to SuperRatings, the SR Balanced (60-76) Index, used to measure balanced super fund returns, recorded a 1.3% rise in November, bringing the interim calendar year-to-date return to 9.9%.

SuperRatings CEO Kirby Rappell said that in a year dominated by political uncertainty, nothing managed to deter the global rally we’ve seen since the start of the year.

“Australia’s super funds are on track to deliver double-digit gains, providing there is no late sell-off before Christmas.”

“Despite the mining boom fading from view, resources shares have delivered through 2017 and helped shield investors from an otherwise lacklustre year for earnings. Despite the benefits of a strengthening Australian dollar for imports, especially in the first half of the year, this will have detracted from returns, but investors have still enjoyed some remarkable gains from the US market, which pushed to record highs late this year.”