Last week, audited performance data provided to the Australian Prudential Regulation Authority (APRA) revealed that the biggest superannuation fund operated by each of Australia’s four major banks, along with the largest super funds operated by AMP and IOOF, yielded total average annual returns of 2.1% to 3.1% cent in the decade to 30 June 2017.
This was well below the average annual return of 3.8% delivered by “risk-free” cash investments over the same period. It was also way below the six largest industry super funds, which yielded around double the returns achieved by the biggest retail funds.
