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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
Retirement
War pause helps super recover losses in April
A ceasefire in the United States-Iran war helped superannuation returns recover in April and almost recoup the losses of the prior month, according to SuperRatings. The superannuation research house estimated the value of a median balanced option in accumulation phase rose by 2.6% in April after falling by 3.2% in March, bringing the financial-year-to-date (FYTD) return to 5.5%. The median growth option gained an estimated 3.1% while the median capital stable option improved 1.3% in April, producing FYTD returns of 6.2% and 3.3% respectively.Credit: SuperRatings“Global markets ended April retracing much of the March losses,” SuperRatings Director Kirby Rappell said in a media release. “The volatility reflects the world in which we are living, with markets hopeful for a sustained solution. “However, the situation remains fluid, and its true impact on global inflation and supply chains is still unfolding.” He said the Reserve Bank of Australia’s decision to lift the official cash interest rate on 5 May by 25 basis points underscored that inflationary pressures persist. Pension returns experienced a similar recovery in April, with the median balanced pension option achieving an estimated return of 2.7%, compared to
Retirement
SUPER NATION: Charting safe passage in choppy waters
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. Superannuation funds speak almost with one voice during sharp market downturns. The essence of their message to fund members nervously watching the value of the retirement savings fall is to stay invested rather than go to cash because markets will eventually rebound. Implicit, if not expressed explicitly, is the importance of understanding that nobody can be certain about picking the bottom of any market. “So I'll finish on my favourite, most important lesson: time in the market beats timing the market,” UniSuper Chief Investment Officer John Pearce said in an investment update for April 2026. Pearce said the recovery in share markets since 23 March showed investors did not expect the surge in oil prices following the U.S. attack on Iran on 28 February to derail growth in corporate profits.Less fearfulHe pointed to the fact that the CBOE Volatility Index (or VIX), measuring market fear, had not spiked as much during the Iran conflict as the Liberation Day sell-off in April 2025, when United States President Donald Trump announced sharp inc
Retirement
Bounce demonstrates virtue of patience -- Chant West
A sharemarket rally in April which lifted superannuation fund returns to 6% this financial year (FY26) was a reminder to stay patient, according to Chant West. The research, data and analytics provider said the average median growth fund (61–80% invested in growth assets) had fallen 3.2% in March due to the United States-Iran conflict and renewed concerns about interest rates amid rising inflation. However share markets had since rallied strongly with the same fund estimated to be up 3.1% so far in April.Credit: Chant West“That almost entirely offsets the March decline and brings the estimated median return over FY26 up to 6%, with about 10 weeks of the financial year remaining,” Chant West said. Head of Superannuation Investment Research Mano Mohankumar said the April rally had been on the back of optimism around a potential de-escalation in Middle East tensions, easing oil prices and solid corporate earnings. “The experience since the start of March is another clear reminder of why it’s important for super fund members to stay patient and maintain a long‑term perspective,” he said. “Members who panicked after seeing their balances fall in March and switched to lower‑risk options or cash not only crystallised paper

Retirement
SUPER NATION: Unfair plan singled out in reform flurry
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. Among the broad raft of reforms to the superannuation system proposed by the Australian Government in a flurry of activity, one stands out as the most controversial. The Government is asking stakeholders if self-managed super funds (SMSFs) should contribute to the nearly out-of-control Compensation Scheme of Last Resort (CSLR). That much is obvious from initial responses to the three different papers on the Treasury website, which were released on the same day ahead of a six‑week consultation period ending on 22 May 2026. Looming large in the background is the collapse of the Shield and First Guardian master funds, which cost more than 11,000 consumers $1 billion-plus in retirement savings and are cited as the catalyst for this regulatory action.Comprehensive packageAssistant Treasurer and Minister for Financial Services Daniel Mulino said the failures had highlighted the need for a comprehensive reform package. “This includes protecting consumers as they are navigating the superannuation system, tackling high‑pressure sales tactics like le
Retirement
War decimates super returns in March
Superannuation fund balances plunged in March as the war in Iran and the disruption to oil supplies erased returns since September and reduced them in the financial-year-to-date (FYTD), according to SuperRatings. The superannuation research house estimated the balance of a median balanced fund in accumulation phase fell by 3.2% in March, reducing the FYTD return to 2.8%, while the median growth and the capital stable options dropped by 4.1% and 1.8% respectively, pushing down the cumulative returns to 3.0% and 2.1% respectively.Source: SuperRatings“With just one quarter remaining in the financial year, the pathway for funds to once again outperform their long-term average is narrowing, with returns confronting elevated levels of uncertainty across both global and domestic markets,” SuperRatings Director Kirby Rappell said in a media release. “Markets are responding quickly to a rapidly evolving situation. This means we are likely in a period of greater volatility. While this will flow through to balances, it should be remembered that member’s super is usually invested across a range of asset classes (not just shares) and that over the long term, super returns remain sound.” Pension fund members also suffered with median,
Retirement
SUPER NATION: Peak bodies squabble over switching data
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. An unspoken détente in super may have ended in recent weeks as differences between rival peak super bodies are made public. A hint of it came with media coverage suggesting not everybody was happy with the formation of a new group bringing the industry closer to the members of Parliament who make the laws that govern this sector. But it has widened with one organisation accusing another of providing “misleading” and “flawed” data as the spectre was raised of the collapse of the Shield and First Guardian master funds which cost 11,000 people more than A$1 billion (US$685 million).Feeling left outA gossip column article in the Australian Financial Review (AFR) with the headline ‘Industry super’s Mean Girls club’ talked about dissatisfaction with the launch party for the Parliamentary Friends of Super, which is sponsored by Super Members Council. The newspaper claimed the invitation list was dominated by SMC’s industry super fund members, with retail funds, self-managed super funds (SMSFs) and platforms left “out in the cold”. Each one is of s
Retirement
Long term focus urged as war hits super fund returns
Superannuation fund members should see short-term falls in returns due to the Middle East war in the context of the long-term nature of super, according to Chant West. Funds delivered a positive return in February with the median growth fund (61–80% invested in growth assets) gaining 1.1% for the month, but markets have since come under pressure. Share markets had fallen in response to the escalation of the United States and Israeli conflict with Iran in early March, which pushed oil prices higher and raised interest rate concerns amid rising inflation. The research, data and analytics provider estimated the median growth fund was down 3.8% so far in March, reducing the financial-year-to-date (FYTD) return to about 2.5%.Source: Chant WestHead of Superannuation Investment Research Mano Mohankumar said it was important for fund members to see short-term movements in context during periods of volatility. “It’s critical for members to keep in mind that super is a long-term investment and there will inevitably be periods of market weakness through their super journey,” he said in a media release. “While we recognise that members have different levels of comfort when their balance goes backwards, the majority can afford t