Three new corporate super mandates have been added by Russell Investment Master Trust – Clayton Utz, Byrnecut Group Superannuation Plan and an unnamed reinsurer.
Australians should consider putting their money in their superannuation instead of property as fund balances are now growing faster than house prices.
Analysis by Chant West showed median growth-orientated retirement balances surged by 12.2 per cent since July 1 - something unthinkable only a year ago.
The double-digit growth in just nine months, to the end of March 2021, was even stronger than the 7.7 per cent surge in Sydney s median house price during the past year.
Australia s share market was this week close to reaching a record high, with the benchmark S&P/ASX200 just 1.5 per cent below the all-time peak of 7,197 set in February 2020 shortly before the Covid shutdowns.
Print
The laurels have been largely equally shared between industry funds and retail master trusts in the latest Heron Quality Star Ratings released by the Heron Partnership.
Heron analysed 113 superannuation products and assessed 83 of those as being of outstanding quality and therefore worthy of being award 5 Heron Quality Stars.
Heron Partnership managing director, Chris Butler said that he believed the fact that 83 out of 113 products had earned a 5 star rating represented an endorsement of the overall quality of Australian superannuation funds.
Related News: