The best have been named, but not one made a positive return in 2022.
Balanced superannuation funds finished 2022 down almost 5 per cent after a turbulent year on local and global stock markets wiped tens of billions of dollars from Australians’ $3.3 trillion retirement savings pool.
“A lot of superannuation funds became very defensive and pushed their allocation toward fixed income products, particularly government bonds and cash,” he toldMr Joiner said many super funds were now looking for turning points and opportunities to jump back into growth assets. Kirby Rappell, executive director of Super Ratings, said while the year-end super results would disappoint Australian workers and retirees, over the medium-term super funds continued to show solid results.
AustralianSuper’s balanced fund, which ranks second over the decade, was well down the 2022 rankings, losing 4.8 per cent over the year, the median among all balanced funds, according to Super Ratings’ calculations. “Unlisted assets also provide great diversification benefits during periods of sharemarket weakness, which we saw in 2022.”
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