Super fund returns could hit double digits for FY24

InvestorDaily

The median balanced option generated a return of 1.9 per cent in March, up from 1.8 per cent for February, taking the estimated return for the first nine months of the financial year to 8.8 per cent. This signalled a potentially “decent chance” of strong returns for financial year 2024, according to research house SuperRatings. The median growth option gained an estimated 2.3 per cent and the median capital stable option also rose by an estimated 1.1 per cent.

Looking at pensions, the median balanced pension option increased by around 2.2 per cent. The median capital stable pension option and median growth pension option grew by an estimated 1.2 per cent and 2.6 per cent, respectively. SuperRatings highlighted these returns have been assisted by strong share markets both in Australia and internationally.

The rest of this article can be found at investordaily.com.au.