Australian superannuation balances continued their upward trajectory in February, even as the Reserve Bank of Australia increased interest rates. According to SuperRatings, the median balanced superannuation option saw a rise of 1.1 per cent during the month. Funds have achieved a return of 6.3 per cent for the financial year up to February 28, marked by steady, albeit modest, monthly gains.
Growth options also performed well, with the median growth option increasing by 1.2 per cent in February. Capital stable options also saw positive movement, with a median increase of 0.8 per cent. Pension returns were marginally stronger across the board. The median balanced pension option rose by 1.3 per cent, while the capital stable pension option increased by 0.9 per cent. Growth pension options also saw a gain of 1.3 per cent.
However, market volatility in early March has since created headwinds for superannuation returns. SuperRatings estimates that the median balanced option has already fallen by 1.6 per cent this month. The median growth option is estimated to be down by 2.0 per cent, while the median capital stable option has dropped by 0.9 per cent.
SuperRatings is an Australian superannuation research and ratings company. They provide insights and ratings on superannuation funds to help members make informed decisions about their retirement savings.
