Data confirms impact of ME conflict on super

Mike Taylor

Managing Editor and Publisher

13 April 2026

March superannuation performance data analysis has confirmed the degree to which the conflict in the Middle East hit member balances with the median balanced option declining by 3.2%.

The latest analysis from SuperRatings confirmed the decline noting that it had wiped out the gains accumulated since September, last year.

The median Growth option is estimated to have fallen by -4.1% and more defensive strategies were not immune, with the median Capital Stable option recording an estimated loss of -1.8% over the period.

Pension returns followed the same downward trend seen in accumulation indices, with SuperRatings estimating losses across Balanced, Growth and Capital stable pension options in March will exceed accumulation option losses.

SuperRatings said that, as a result, the financial year to date return for the SuperRatings Balanced index had eased to 2.8%.

Commenting on the data, SuperRatings director, Kirby Rappell said that with just one quarter remaining in the financial year, the pathway for funds to once again outperform their long-term average is narrowing, with returns confronting elevated levels of uncertainty across both global and domestic markets.

“Markets are responding quickly to a rapidly evolving situation. This means we are likely in a period of greater volatility. While this will flow through to balances, it should be remembered that member’s super is usually invested across a range of asset classes (not just shares) and that over the long term, super returns remain sound,” Rappell said.

“March’s results reflect the reality that superannuation returns are being pulled in multiple directions: geopolitical issues, global market volatility, and interest rate changes all influence performance,” he said. “While negative months are difficult, it’s important to remember super is a long-term investment and markets can recover over time.”