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Media Release 25 April 2007 March is Super but lags 2006 Performance! Highlights (Median Fund#) The month of March 2007 1.00% Financial year to 31 March 2007 11.42% Rolling 1 year return to 31 March 2007 11.05% Rolling 3 year return to 31 March 2007 14.37% pa Rolling 5 year return to 31 March 2007 9.77% pa Rolling 7 year return to 31 March 2007 8.25% Jeff pa Bresnahan, Rolling 10 year return to 31 March 2007 9.21% pa Managing Director, SuperRatings Pty Ltd # SuperRatings’ SR50 Balanced Index™ is the median of the 50 largest balanced investment options with exposure to growth style assets of between 60% and 76%. Over 80% of Australians in our major super funds are invested in their fund’s default investment option which in most cases is the balanced investment option. Returns are net of fees and tax. Negative returns on property, international equities and fixed interest for the month of March did nothing to halt the ongoing strength of Australia’s major super funds with the median balanced investment option returning 1.00% for the month. This was solely attributable to a raging Australian equity market which returned investors with a median of 3.01% for the month, after fees and taxes. This now brings the financial year to date median balanced option up to 11.42% and the rolling results over 1, 3 and 5 years to 11.05%, 14.37% and 9.77% respectively. Top 10 Super Returns for 9 Months ended 31 March Despite this, financial year 2007 to 31/03/07 Balanced# Investment Options taken from SR50 Balanced performance Index lags the 9 Months to equivalent 2006 Fund and Option Description 31 March 2007* YTD performance 1 Catholic Super Fund – Balanced 14.5% of 15.2%, so 2 Telstra Super Corp Plus – Balanced 13.4% the end result 3 JUST Super - Balanced 12.8% for the 2006/07 year will 4 AustSafe Super - Balanced 12.8% obviously 5 AMP CustomSuper – AMP Balanced Growth 12.8% depend heavily 6 Navigator SuperSolutions – Employer- Pre Select 12.7% on how the Growth Fund markets finish 7 Mercer Super Trust – Mercer Growth 12.6% off the year. 8 ASGARD Employer Super – SMA Balanced 12.5% Irrespective, things are 9 Legg Mason – The Corporate Super MT – Balanced 12.4% Trust looking good 10 SunSuper Solutions - Balanced 12.4% for Australians. Top Quartile 12.2% SuperRatings’ Median Index 11.4% Bottom Quartile 11.1% Suite 3205, Australia Square, Level 32, 264 George Street Sydney NSW 2000 Balanced Fund Options with between 60% and 76% of assets in growth style investments. T 02 9247 1466 F 02 9247 8249 [email protected] *All results are net of fees and tax www.superratings.com.au 1 Suite 3205, Australia Square, Level 32, 264 George Street Sydney NSW 2000 T 02 9247 1466 F 02 9247 8249 [email protected] www.superratings.com.au 1 Media Release 25 April 2007 Commentary It seems like déjà vu, but balanced portfolios seem determined not to take a backward step as the financial year rolls on. Even with three major asset classes going backwards for the month (International Shares – minus 0.5%; Property – minus 1.69% and Fixed Interest – minus 0.10%), Australian equities stepped up to the plate to overcome their combined negative effect with a monstrous 3.01% net return for the month. The ongoing strength of markets, and hence Australia’s major superannuation funds, continues to lift long term results with the median 7 year performance now at 8.25% and 10 year performance at 9.21% for balanced investment options. Both compare favourably against most funds’ long term objectives of CPI plus 3.5% per annum. interesting to note the continued slide in exposures to Fixed Interest with the average weighting dropping from 26% in 2002 to 19% in 2006. Nearly all of this money has found its way into “alternative” investments such as Private equity, Hedge Funds and Infrastructure, with asset allocation in this area increasing from just 4% in 2002 to a current 9%. With a number of funds now taking significant positions in alternative style assets it will be interesting to see the variations in returns over time as the quality of assets comes to the fore. Whilst most balanced options continue to retain a steady weighting to traditional markets such as Australian equities (32%), International equities (25%), Property (9%) and Cash (6%), it is 12 Month Results A complete table of the highest and lowest results for the 12 months ended 31 March 2007 within each investment category (covering all funds) is as follows: Option Type Highest Median Lowest Balanced (60%-76% Growth) 14.7 11.1 7.2 Growth (77%-90% Growth) 14.8 11.8 8.7 Australian Shares 22.9 19.1 13.8 Suite 3205, Australia Square, Level 32, 264 George Street Sydney International Shares 10.7 1.7 -8.3NSW 2000 T 02 9247 1466 F 02 9247 8249 27.8 [email protected] www.superratings.com.au Property 21.6 13.7 Cash 6.0 5.1 3.1 2 Media Release 25 April 2007 In other investment options the financial year to date results have covered a wide range: 9 Month period 1 July 2006 to 31 March 2007 Growth Options SuperRatings Index 12.9 % Australian Share Options SuperRatings Index 20.1 % International Share Options SuperRatings Index 6.5% Property Options SuperRatings Index 18.7 Capital Stable Options SuperRatings Index 7.1 % Cash Options SuperRatings Index 3.9 % % Other key results in respect of the rolling five year results to 28 March 2007 include: 5 Year Growth Option SuperRatings Index 10.0 % p.a. 5 Year Australian Share Option SuperRatings Index p.a. 15.6 5 Year International Share Option SuperRatings Index p.a. 5 Year Property Option SuperRatings Index 2.5 % 13.3% p.a. 5 Year Capital Stable Option SuperRatings Index 6.9% p.a. 5 Year Cash Option SuperRatings Index 4.5 As can be seen from the above the choice of a particular investment option is critical to all Australians’ financial future. So aside from the challenge of choosing an appropriate fund Australians are then faced with the choice of which option to choose within such a fund. This probably explains why more than 4 out of every 5 Australians currently sit in their fund’s default option which in most cases is the “Balanced” option with some 70% of assets exposed to growth % % p.a. style assets with the remaining 30% in defensive style assets. SuperRatings’ complete Fund Crediting Rate Survey covers over $280 billion worth of superannuation assets and monitors fund returns to over 13 million Australians through Australia’s major superannuation funds. The survey specifically excludes Pooled Superannuation Trusts (PST’s) as they are institutional based investment pools. Suite 3205, Australia Square, Level 32, 264 George Street Sydney NSW 2000 T 02 9247 1466 F 02 9247 8249 [email protected] www.superratings.com.au 3 Media Release 25 April 2007 Additional Return and Database Information We believe our database to be the largest in Australia dealing with multi-employer superannuation funds, where the great majority of Australians have their retirement benefits invested. We now update our website monthly to show the top 5 performing funds together with the medians over all time periods for the following investment options: • • • • • • • • • • • Balanced Growth Australian Shares International Shares Capital Stable Property Cash Fixed Interest High Growth Secure Conservative Balanced influence a consumer’s decision in relation to a particular financial product/s or an interest in a particular product/s. SuperRatings does not provide financial product advice for the purposes of the Corporations Act 2001. Consumers should obtain independent legal or financial advice before making any financial decision. “Smart” web-based System SuperRatings web-based “Smart” is a leading research database hub providing a significant number of institutions with up to date information on over 200 of Australia’s largest super fund products. Clients now include Financial Planning firms, superannuation funds and superannuation administrators. Who Is SuperRatings? Simply go to our website (www.superratings.com.au) and click on “Latest Investment Returns” to view the various tables. Our website will be updated with all 31 March results this week. The “SuperRatings’ SR50 Index” as shown in the tables is the median result of the largest 50 options. We welcome any Media enquiries regarding any of the information held on our database and where possible we will provide customised tables/graphs for your use. SuperRatings created the superannuation ratings industry in Australia. The company was founded in 2002 by its Managing Director, Jeff Bresnahan, with the aim to “To Encourage And Where Necessary Create Disclosure Within The Superannuation Industry”. The company has quickly grown to become recognised as the leading independent research and ratings firm in the multiemployer superannuation market. For more information please call: Jeff Bresnahan on 02 9247 1466 or 0411 472 470 RELEASE ENDS Disclaimer: The information used in compiling SuperRatings’ Investment Survey comes from sources considered reliable. It is not guaranteed to be accurate or complete. The purpose of the Investment Survey is not to © SuperRatings Pty Ltd. This publication is copyright. Except in accordance with the Copyright Act 1968 (Cth), no part of this publication December be in any form or by any means reproduced or communicated to Suite 3205, Australia Square, Level 32, 264 George Street Sydney NSW 2000 T 02 9247 1466 F 02 9247 8249 [email protected] www.superratings.com.au 4 Media Release 25 April 2007 the public without the prior written permission of SuperRatings Pty Ltd. Suite 3205, Australia Square, Level 32, 264 George Street Sydney NSW 2000 T 02 9247 1466 F 02 9247 8249 [email protected] www.superratings.com.au 5