Super returns headed for positive 2023 year-end
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Australian superannuation fund returns look likely to finish the calendar year in positive territory, following a solid November, according to the latest data from SuperRatings.
The SuperRatings data has led the firm to estimate the median balanced option will deliver a 3.1% return for November while the median growth option is estimated to return 3.5% and the median capital stable option is expected to return 2%.
According to SuperRatings executive director, Kirby Rappell the November investment performance has been strong enough to recover most of the losses over the past few months, setting up a modest but positive scene for most members approaching the half-way point of the financial year.
“Despite modest returns over the second half of the year, funds are on track to deliver a 6.8% return after the first 11 months of the calendar year for the median balanced option,” Rappell said.
“While the final result will be dependent on December performance, members are expected to see a reasonable positive return for calendar year, which may be similar to the estimated 6.4% p.a. for the median balanced option since 2000.”
“We continue to believe that inflation will be a strong driver of markets in 2024, coupled with softening consumer demand; however, most members should remain reassured by super funds ability to navigate the range of market conditions we’ve seen over the past few years.” commented Rappell.
“December has been more mixed for shares so far, however there is still potential for a Santa rally in the second half of the month, and we encourage members to remain focused on their long-term outcomes.”
FAAA, as has others, have been lobbying too about the CSLR. Here is some public commentary on Linked iN https://www.linkedin.com/feed/update/urn:li:activity:7220619889001082882/
Agree about "Or was the Ramsay Review a shonky pseudo-scientific exercise like ASIC’s insurance churning review" ASIC should re-open the…
Aren't All Government reviews predetermined and they just backfill the evidence to Justify the action. This is both sides
you're spot on ANON
The govt seems to be trying to hide behind the "Ramsay Review". Does anyone know what the Ramsay Review was?…