Super funds up 2.4% in September
Article by Mozo
Super funds went up by an average of 2.4 per cent in September, new figures show.
Research company Chant West also claimed that funds could have been up by as much as 3.5 per cent if the Australian dollar had not been so strong.
September's results contributed to a strong performance for super funds during the first quarter of the financial year at 4.3 per cent average growth.
"After a negative August, September was a bumper month for Australian and international shares and this led to strong returns for growth funds," commented Chant West director Warren Chant.
"However, currency was also a very important factor and the funds that did best were those that hedged more against the rising Australian dollar."
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