AUSTRALIA - Growth-oriented superannuation funds continued to deliver strong returns for July with the median fund returning 2.1%, according to Intech Investment Consultants.
The result came on the back of the 2.3% median return for June and 2.4% median return for May.
This was the first time the median return for the Intech Growth universe had exceeded 2% for three consecutive months since before the stock market crash in October 1987, the consultant said.
Australian shares produced a return of 2.6% for July, or 29.4% over the year to date. International shares returned 3.8% while listed property came in at 2.2% and unlisted property 0.6%. Australian bonds, international bonds and cash all returned 0.5%.
The monthly Growth survey represents the net performance of Pooled Superannuation Trusts offered by the major Australian commercial super fund providers.
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