Independent superannuation research consultancy Chant West has released its finding on the performance of Australian super funds for the year ending June 2013. Over the 12-month period ending June 30, 2013 the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) gained 17.3%; Chant West's study has shown that a number of funds managed to outperform this index.
The median growth fund – defined as having between 61% and 80% invested in growth assets and with over $500 million in investable assets – returned 15.6% for the year. This was the best return in the past 16 years with even the worst performing fund in Chant West's growth category returning a respectable 10.2%.
Chant West director, Warren Chant pointed out in the release that it takes the scorecard to "four consecutive positive financial year returns averaging about 8.8% per annum. From the low point in early 2009, the median fund has not only recovered all its post-GFC losses but is now sitting about 10.5% above its pre-GFC high, which was achieved in October 2007."
Amongst the top 10 performing growth funds for the year were a number of super funds administered by listed wealth management companies. Coming in at number 1 was the BT Super for Life 1960s Lifestage Fund, run by BT Financial Group (ASX: BTT) with a return of 18.6%.
In fourth place was the AMP RIL Balanced Fund, managed by AMP (ASX: AMP), followed closely behind in fifth place by CFS FirstChoice Growth Fund, managed by a division of Commonwealth Bank (ASX: CBA) which both returned 17.8%.
Coming in at the ninth spot was the IOOF (ASX: IFL) managed IOOF MultiMix Balanced Growth Fund which returned 16.8% for members.
Foolish takeaway
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Motley Fool contributor Tim McArthur owns shares in BT Financial Group.
