Morningstar Australian Superannuation Survey – March 2013

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Morningstar has published interim results of the Morningstar® Australian Superannuation Survey, providing comprehensive coverage of the performance of Australian-offered retirement savings vehicles to 28 February 2013.

The Survey includes both commercial for-profit and industry superannuation options. Morningstar classifies funds according to a proprietary classification system created to facilitate meaningful peer-relative comparisons.

Key Findings
The solid start to 2013 from Growth superannuation funds continued over the month of February. The median fund returned 2.2 percent. Individual results fell between a low of 1.2 percent and a high of 4.5 percent. Longer-term annualised results for the median fund were 14.1 percent over one year, 7.1 percent over three years, 3.0 percent over five years, and 7.1 percent over the 10 years to 28 February 2013.    

Growth assets contributed to the strong results for multi-sector options over the month of February. Australian shares, as measured by the S&P/ASX300 Accumulation Index, rose 5.3 percent, international shares gained 1.9 percent, Australian property securities 3.5 percent, and global property securities 1.7 percent. Cash returned 0.2 percent, but other defensive assets did not do particularly well – Australian fixed interest was up 0.6 percent and international fixed interest 0.8 percent. 
 
The superfunds in the Morningstar Multisector Growth category held an average allocation to equities of 58.1 percent at the end of January, split between Australian equities (31.2 percent) and international equities (26.9 percent), while the average allocation to property was 7.5 percent.

The average allocation to defensive assets totalled 23.1 percent (10.1 percent domestic fixed interest, 6.3 percent international fixed interest, and 6.7 percent cash). BlackRock Scientific Diversified Growth had the highest allocation to Australian shares (41.0 percent), followed by Maple-Brown Abbott and Equip (formerly Equipsuper) both (40.0 percent).

The highest allocation to international shares was recorded by Zurich Managed Growth (37.9 percent), followed by CFS Growth (35.0 percent), and Care Super (31.6 percent).
 
The best-performing Growth superfunds over the three years to 28 February 2013 were Legg Mason Balanced and REST Super Core both (9.2 percent), followed by Legg Mason Growth (8.9 percent), Invesco Diversified Growth (8.6 percent), and AustralianSuper Conservative (8.3 percent).

Over the five years to 28 February, Schroder Superannuation (6.1 percent), followed by REST Super Core (5.8 percent) and Perpetual Balanced Growth (4.5 percent) come out on top.  
 
Among the options in the Multisector Balanced category (40.0 ? 60.0 percent growth assets), the best performers over the three years to 28 February 2013 were AustralianSuper Stable (7.5 percent), followed by REST Super Balanced (7.3 percent), and Energy Super (7.1 percent).

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