Best performing super funds for 2018-19 revealed

Posted: 17 July 2019 11:23 am

Man in cafe on laptop. QSuper and UniSuper were the best performing growth funds for the year, while AustralianSuper had the best returns over the last 10-year period.

Leading superannuation research firm Chant West has today revealed the top performing super funds over the past financial year, as well as the top performing funds over the past 10 years. In good news for Australian workers, super funds have had a record-breaking run over the last 10 years, thanks to the positive performance of both the local and international stock markets.

Chant West analysed the performance of growth funds, which are superannuation investment products that have between 61% to 80% of their asset allocation in growth assets (like shares and property). Most Australians are invested in growth funds through their super.

Looking at the past 12 months to 30 June 2019, the top performing growth funds were QSuper's Balanced fund and UniSuper's Balanced fund, both returning 9.9% for the year.

Best performing growth super funds for the 2018-19 financial year

Fund nameAnnual performance for 2018-19
QSuper Balanced9.9%
UniSuper Balanced9.9%
Media Super Balanced8.8%
AustralianSuper Balanced8.7%
Tasplan Balanced8.6%
Sunsuper Balanced8.6%
IOOF Balanced Investor Trust8.2%
VicSuper Growth8.2%
First State Super Growth7.7%
PSSap MySuper Balanced7.7%

As superannuation, for most people, is a long-term investment it's important to consider the long-term performance of a fund instead of just looking at the past year's returns. Chant West also revealed the top-performing super funds over the past 10-year period, with AustralianSuper's Balanced option taking the top spot with an average return of 9.8% p.a. Hostplus Balanced took second place, with QSuper and UniSuper again appearing in the top five.

Best performing growth super funds for the past 10 years

Fund name10-year performance to 30 June 2019
AustralianSuper Balanced9.8%
Hostplus Balanced9.7%
UniSuper Balanced9.6%
QSuper Balanced9.5%
Cbus Growth (MySuper)9.4%
CareSuper Balanced9.3%
VicSuper Growth (MySuper)9.2%
TelstraSuper Balanced9.1%
CFS FirstChoice Growth9.1%
Sunsuper Balanced9.1%

Chant West's senior investment manager Mano Mohankumar said that these performance returns were certainly impressive, but that Australians shouldn't expect this run to keep going.

"While this year's result hasn't reached the heights of some recent years, the average return over the past 10 financial years (including this one) has been 8.8% per annum. That's a tremendous run, but we should remember that it partly represents the recovery from the GFC (global financial crisis), which produced two consecutive financial year losses in 2007/08 and 2008/09. So it would be a mistake to assume that the level of returns we've seen recently is sustainable. Indeed, with many asset sectors looking to be fully valued or close to it, we're expecting some challenging times ahead," he said.

If you're not happy with the performance of your super fund, compare super funds and consider making the switch.

Pocket Money podcast: Superannuation tips for an early retirement

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