Super returns hit 8.8% YTD

Superannuation fund investment returns may yet hit double digits for the financial year, according to specialist ratings house, SuperRatings.

With the median balanced option generating an estimated 1.9% return for March, bringing the year to date return to 8.8% SuperRatings said a double-digit return was possible depending on the outcome for the final quarter.

SuperRatings executive director, Kirby Rappell said that returns had proved resilient over the year with consistent positive performance driven by both international and domestic equities.

According to SuperRatings the median growth option gained an estimated 2.3% for the month, while the median capital stable option also rose by an estimated 1.1%.

Pension returns also grew over March, with the median balanced pension option increasing by an estimated 2.2%. The median capital stable pension option is estimated to have grown by 1.2% over the month while the median growth pension option is estimated to increase by a 2.6% for the same period.