Super funds were up for the fifth consecutive month in March, with the median growth fund (61 to 80% in growth assets) delivering 1.9% over the month. With just one quarter of the 2023/24 financial year remaining, the median growth fund’s financial year return is sitting at an impressive 8.8%, which comes on the back of the better-than-expected return of 9.2% in FY23.
Chant West Senior Investment Research Manager, Mano Mohankumar, says that the first nine months of the financial year can be split into two distinct periods. “Over the first four months (July to October), growth funds retreated 1.9% but over the most recent five full months (November to March), super funds gained a stunning 11% on the back of the strong share market rally. The financial year to date return of 8.8% puts super funds on pace for a 13th positive return out of 15 years.
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