AUSTRALIA - The top 30 superannuation funds have posted an average rolling 12-month return of 5% for the 12 months to the end of March, latest figures show.
Three and five year per annum returns fell to 1.3 and 2.3% respectively, research by Rainmaker and SelectingSuper revealed. Australian shares, which make up around one third of superannuation assets,...
AUSTRALIA - The wheels were finally set in motion to raise the contribution limit in Australia to 12% from 9% with the introduction of a new bill today.
AUSTRALIA - The A$73.2bn ($78.2bn) Future Fund lost 2.9% in the third quarter, though moves to decrease equity exposures helped stave off more drastic losses.
AUSTRALIA - The median balanced superannuation fund has fallen for the fifth consecutive month returning -1.8%, -4.9% for the September quarter and -3.8% for the past year, SuperRatings finds.
AUSTRALIA - The merger between the A$2.4bn (US$2.5bn) StatewideSuper and the A$1.7bn Local Super will move to the next stage, beginning the due diligence process following approval in principle from the funds' major shareholders.