“Share exposure continued to drive super returns in November. Members invested in options with higher exposure to shares benefited from the strength of the market.” commented Kirby Rappell, Executive Director of SuperRatings. “2024 has been a stronger year for members than anticipated. Total superannuation balances have now topped $4 trillion as at the end of September and so far, April is the only month where funds haven’t provided a positive return to members invested in the median Balanced option.”

The median growth option grew by an estimated 2.8% in November, while the median capital stable option, with limited exposure to international shares grew a more modest 1.4%.

Pension returns saw a similar result, with the median balanced pension option increasing by an estimated 2.7%. The median capital stable pension option is estimated to rise 1.5% over the month, while the median growth pension option is estimated to rise 3.1% for the same period.

“The estimated monthly returns pushes the calendar year return into double digits, with the median balanced accumulation product estimated to return 11.4% for the first 11 months of 2024. For pension members, the median balanced pension product is estimated to return 12.8% for the 11 months to 30 November 2024” continued Mr Rappell.

“As we near the end of the year, members will be pleased to see their balances continuing to grow. Funds have delivered an estimated 6.7% annual return over the past 24 calendar years. While there are areas of clear improvement remaining for super funds, it remains reassuring that returns have remained competitive.”

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