Big finish for super funds in 2009

Australian superannuation funds finished 2009 strongly, thanks to a record 6 month rally in the second half of 2009, according to ratings house SuperRatings.

The median balanced superannuation fund lost 19.7% in 2008, making it the worst year on record.

However, the median balanced superannuation fund returned 12.9% in 2009. This return came almost exclusively during the second half of 2009, with the first 6 months virtually flat. This rally was the largest half-year result since the introduction of compulsory super in 1992. In December 2009 alone, the return was 2.19%.

The main driver for this rally, according to analysis by SuperRatings, was the Australian sharemarket performance, with the fixed interest area providing additional returns.

The figures also indicated that the global financial crisis has dampened consumer commitment to investing in super, with personal or discretionary contributions falling by over 40% in 2008/09.

Important Information

The above information provides an overview or summary only and it shouldn’t be considered a comprehensive statement on any matter or relied upon as such. The above information doesn’t take into account your personal objectives, financial situation or needs. It’s important for you to consider these matters before making any financial decision and I recommend you seek help from a financial adviser.