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Super funds return 9.1% in volatile year - SuperRatings
Australian superannuation funds have delivered strong returns for the fourth consecutive year despite month-to-month volatility and due mainly to the United States and other international sharemarkets, according to SuperRatings. The superannuation research house estimated the balance of a median balanced option in the accumulation phase delivered a return of 9.1% in the year to 30 June 2026 after a 1.2% return in the final month. “This result arrives largely off the back of the strong performance of international share markets, whilst Australian markets delivered a more modest gain,” SuperRatings said in a media release. “Despite the strong headline result, investors have experienced considerable ups and downs over the course of the year.“ The median growth option produced an estimated return of 10.6% after 1.3% in June, while the median capital stable option returned 5.9% following 0.9%.Source: SuperRatingsIn the nine months to 31 March, the median balanced option had returned just 2.8% as the outbreak of conflict between the U.S. and Iran weighed heavily on investment markets. However, as the situation in the Middle East appeared to stabilise and the growth of artificial intelligence (AI) continued, international
Retirement
SUPER NATION: Last resort becomes first responder
Super Nation is a fortnightly column that examines, explains and analyses key issues in one of Australia's largest, fastest-growing and most important industries: superannuation. As an announcement, it probably came as no surprise, but the hammer blow was no less powerful. The levy to fund Australia’s financial compensation scheme had blown out by 44%, or A$60.6 million (US$41.9 million), compared with its previous estimate only months earlier. Just as relevant was that the $198.1 million revised levy for the Compensation Scheme of Last Resort (CSLR) for the 2027 financial year (FY27) dwarfs the ‘cap’ of $20 million. Almost everyone agrees the Scheme is unsustainable and appears more like a first responder than the last resort in its name. This comes as Treasury considers feedback from consultation about proposed reforms to make the Scheme more sustainable.Collapses drive claims The CSLR expects to process 1,567 claims in FY27, up sharply from 912 in its initial forecast, according to this statement. It reflects a 71% surge in compensation payments driven mainly by the long tail of the Dixon Advisory & Superannuation Services collapse, and the first wave of claims tied to the Shield Master Fund and First Guardian
Retirement
Australian super fund returns 9% so far in FY26
The return on a median growth superannuation fund has been 9% in the 2026 financial year (FY26) with less than two weeks remaining, according to Chant West. The research, data and analytics provider said the balance of a median growth fund (61–80% invested in growth assets) rose 2.1% last month in what it described as a “tremendous” performance. This produced a return of 8.3% in FY26 to the end of May with the performances ranging from 5.0% for a fund with a “conservative” risk profile to 10.4% for an “all growth” fund. Head of Super Investment Research Mano Mohankumar said the strong FY26 performance to date had largely been powered by international listed shares.Source: Chant West“It also helped that all asset classes have delivered positive returns over the period with the exception of Australian REITs (real estate investment trusts), to which super funds have very little exposure,” he said in a media release. This was another timely reminder of the importance of maintaining a long-term perspective and not getting distracted by short-term market noise. “In late March, a return in the vicinity of 9% for growth funds would have appeared unlikely following the significant share market pullback, sparked by the US-Ira
Retirement
Tech-led rally drives super recovery in May
A recovery in April and May has put superannuation funds on track to generate high single-digit returns this financial year but the future is uncertain, according to SuperRatings. The superannuation research house estimated the balance of a median balanced fund in the accumulation phase rose by 2.1% in May, bringing the financial-year-to-date (FYTD) return to 7.9%. The result, which was largely driven by a rally led by technology stocks overseas, built on the 2.6% gain in April and meant funds had fully recovered from the 3.2% loss recorded in March after the outbreak of the United States-Iran conflict. The median growth option gained an estimated 2.4% while the median capital stable option rose 1.3% last month, producing 11 month returns of 9.0% and 4.9% respectively.Source: SuperRatings“As we approach the end of the financial year, we seem to be getting used to the ups and downs of markets,” SuperRatings Director Kirby Rappell said in a media release. Artificial intelligence (AI)- related news and initial public offering (IPO) listings were an increasing focus while the situation around Iran remained “somewhat fluid”. “This is educating members on how to deal with uncertainty, which has been more subdued in recent
Retirement
Markets absorb Iran shock but more to play out: ART
Global financial markets have absorbed the shock of escalating tensions in the Middle East with unexpected resilience, according to Australian Retirement Trust (ART) Senior Portfolio Manager Jimmy Louca. He said the reaction to the United States’ conflict with Iran had been more muted than during other market disruptions, particularly United States President Donald Trump’s ‘Liberation Day’ announcement of global tariffs last year. “Given the potential impact on economic outcomes, the Iran conflict has actually been more subdued. That was somewhat surprising,” Louca said in an interview with Azzet. He cited equity market declines of roughly 8–9% in the aftermath of the U.S. attack on Iran on 28 February 2026, compared with about 15% after Liberation Day on 2 April 2025. The contrast was striking, given the Iran conflict carried the risk of severe disruption to global trade and energy supplies, which “definitely made it quite a different drawdown to navigate”.Shocks and opportunitiesThe differences extended beyond the size of market falls, with Louca saying the two events triggered different responses across asset classes and regions, forcing investors to adapt quickly. During Liberation Day, markets focused heavily o

Retirement
Australian super assets fall to $4.4 trillion
The value of Australian superannuation funds fell by 1% in the three months ended 31 March 2026 but rose 7.9% over 12 months, according to data from the Australian Prudential Regulation Authority (APRA). Releasing its Quarterly Superannuation Performance publication for the March 2026 quarter, APRA said sector assets were A$4.44 trillion at 31 March 2026, down from $4.49 trillion at 31 December 2025 but up from $4.11 trillion at 31 March 2025. The regulator said in a statement that APRA-regulated assets rose 8.7% to $3.14 trillion over 12 months, with self-managed superannuation (SMSF) assets rising 7.0% to $1.06 trillion. Among the APRA-regulated funds, industry funds showed the most growth in assets across the year, rising 9.8% to $1.63 trillion, outpacing retail funds (8.8% to $868.2 billion), public sector (6.1% to $604.3 billion) and corporate funds (0.5% to $36.6 billion. But as fund assets fell in the March quarter due to lower returns, retail funds fared the worst with values falling 2.6%, followed by corporate funds (2.4%), industry funds (0.8%) and public sector (0.6%). Total contributions increased by 11.3% to $226.1 billion in the 12 months ended 31 March, of which employer contributions rose 8.4% to $15
Retirement
SUPER NATION: Industry relieved following budget
Super Nation is a fortnightly column that examines, explains and analyses key issues in one of Australia's largest, fastest-growing and most important industries: superannuation. The Federal Budget handed down by Australian Treasurer Jim Chalmers has attracted criticism for its ground-breaking tax reforms, but not from the superannuation industry, which escaped relatively unscathed. What stood out most was the fact it contained no new taxes, tax breaks or major reforms for the A$4.5 trillion (US$3.2 trillion) retirement savings sector. This came at a time when the Labor Government significantly changed the capital gains tax (CGT) treatment of assets, including property and shares, and ended negative gearing of existing investment properties purchased after the Budget date, 12 May 2026. The 50% discount on CGT will be replaced with an inflation-based tax and applied at a minimum effective rate of about 30%. But they did not affect superannuation, which is already tax-concessional to account for the fact that savings are locked up until retirement, with earnings taxed at 15% and capital gains at 10%, which is below the marginal rate of up to 47% for many working Australians. As the Government noted in Budget Paper
Retirement
Super funds return 6.4% so far in FY26 - Chant West
The return on a median growth superannuation fund return so far in the 2026 financial year (FY26) was 6.4% after a rebound in global share markets in April, Chant West said. The research, data and analytics provider said the balance of a median growth fund (61–80% invested in growth assets) rose 2.6% in April, recouping a significant portion of the 3.2% loss in March. Chant West said international markets were also up in May and, with just six weeks remaining in the year to 30 June, the median growth fund return was sitting at 6.4%, compared with 9.2% in all of FY23, 9.1% in FY24, and 10.4% in FY25. Head of Superannuation Investment Research Mano Mohankumar said the April rebound was driven by the tenuous ceasefire in the Middle East and solid corporate earnings in the United States. He said developed market international shares returned 9% in hedged terms, led by the technology and communications services sectors amid ongoing investor enthusiasm for AI (artificial intelligence), while the return in unhedged terms was lower at 4.4% due to the appreciation in the Australian dollar. Emerging markets shares rose 9.3% in unhedged terms, while Australian shares generated a 2.3% gain and Australian and international bonds
Retirement
SUPER NATION: Test tweak splits industry
Super Nation is a fortnightly column that examines, explains and analyses key issues in one of Australia's largest, fastest-growing and most important industries: superannuation. Would you prefer the investment professionals managing your superannuation savings to ‘hug their benchmarks’ or that you are left exposed to the risk of ‘flying blind’? These are some of the concerns raised by industry stakeholders as the Australian Government considers how to strengthen the annual superannuation performance test. As neither sounds particularly positive, it seems like the time to pick your poison as the Government consults on a range of options until 19 June. They are aimed at “removing unnecessary constraints on investment decisions while maintaining a robust and enduring testing framework that upholds high standards for members”, according to the Government. “The consultation will also consider whether the test should be expanded to cover a broader range of products, to improve transparency and strengthen member protections,” Treasurer Jim Chalmers and Assistant Treasurer and Minister for Financial Services Daniel Mulino said in a media release. The test was introduced in 2021 for the low-cost MySuper default products