Super Account Values Nearly Restored!

Super Account Values Nearly Restored!

Super Account Values Nearly Restored!

Some good news after 3 years of choppy Australian sharemarket returns – average super account values have nearly restored to pre-GFC levels – yes, no one is happy about the loss of value, but look at the glass half full and I see it could have been worse.

Karina Barrymore, The Courier-Mail, page 40 reports: “The average superannuation fund is just 1.4 percent away from finally clawing back total losses from the global financial crises, after a bumper August saw all major investment options report profits. According to the latest analysis by research company SuperRatings, balanced super funds returned 1.64 per cent last month, taking the rolling 12-month profit to 6.5 percent. “Australian super funds continue to rally in line with worldwide share markets and are the closest they have ever been to the highs reached immediately before the GFC,” SuperRatings chairman Jeff Bresnahan said yesterday.

And Wouter Klijn, Investor Daily writes: “The Australian and international share markets have pushed the returns of the average balanced super fund to near pre-global financial crisis levels, industry data has found. According to data from SuperRatings, the average fund with about 60 to 76 percent in growth assets, including shares, was only 1.4 percent off the levels seen in October 2007. When looking at the growth of $100,000 over the last 10 years, the account would have reached $176,940 in October 2007, while it would have reported a balance of $174,406 in August this year. Over the past 12 months, the average balanced portfolio returned 6.5 percent.” READ MORE HERE

And Shane Wright, The West Australian, page 6 tells us: “Australians have almost reclaimed all the superannuation lost to the global financial crisis. Figures show the average balanced super fund – in which about 75 percent of all Australians have their retirement nest eggs – improved another 1.6 percent in August. It was the third consecutive monthly improvement in balanced funds, which are now 6.5 percent higher over the past 12 months. The growth was driven by the lift in the Australian and global share markets, which have continued their rallies over recent days on the back of decisions taken by banks in the US, Europe and Japan.”

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About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
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