ESSSuper, UniSuper among best-performing Australian super funds as top 10 for 2022-23 revealed

Australia’s top-performing balanced superannuation funds for the last financial year have been revealed, according to new research.

Members in six of the best-performing funds achieved double-digit returns in the year to June 30, research house SuperRatings says.

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The consultancy firm named ESSSuper, Vision Super and Brighter Super as the top three winners for balanced options, achieving 13.3, 11 and 10.6 per cent returns for the year respectively.

Sustainability was also a winner for members, with Raiz Super’s Emerald portfolio reaching a return of 13.3 per cent.

The remaining four best sustainable balanced options beat out the rest of the top 10 balanced options, all hitting returns of at least 10.5 per cent.

ESSSuper’s group executive of investments Daniel Selioutine said the fund’s performance over the last year was a welcome result.

“(It) follows a multi-year program of reorienting the portfolio towards areas of competitive advantage,” Selioutine added.

“Our shorter-term performance is explained by our positioning in equities and bonds; however, our dedicated investment team remains firmly focused on delivering longer-term investment outcomes to members.”

UniSuper’s accumulation balanced option was the highest of the mega funds, achieving a 10.3 per cent return.

In the longer term, Hostplus, AustralianSuper, Australian Retirement Trust and UniSuper claimed the top spots for best-performing balanced options over 10 years, reporting returns of 8.4 per cent or higher.

“While short-term trends may be topical, longer-term trends are our primary focus as we want to see which funds have performed well over the long term and their alignment with their member’s outcomes,” SuperRatings executive director Kirby Rappell said.

“Superannuation continues to deliver for members over the long term, with annual returns of 7.1 per cent since compulsory superannuation began in 1992,” Rappell said.

The growth follows a 3.4 per cent loss across the sector last year, with SuperRatings attributing the high fund returns to international share markets rebounding.

The top 10 balanced options over 12 months:

  • ESSSuper Accum (13.3 per cent)
  • Vision SS (11 per cent)
  • Brighter Super Accum (10.6 per cent)
  • UniSuper Accum (1) (10.3 per cent)
  • Equip MyFuture (10.1 per cent)
  • Australian Retirement Trust (10 per cent)
  • IOOF Employer Super Core (9.8 per cent)
  • Aware Super Future Saver (9.7 per cent)
  • Mercer Super Trust (9.6 per cent)
  • HESTA (9.6 per cent)

The top 10 balanced options over 10 years:

  • Hostplus (8.9 per cent)
  • AustralianSuper (8.6 per cent)
  • Australian Retirement Trust – Super Savings (8.4 per cent)
  • UniSuper (8.4 per cent)
  • Cbus (8.4 per cent)
  • Vision Super (8.3 per cent)
  • CareSuper (8.1 per cent)
  • HESTA (8 per cent)
  • Aware Super Future Saver (7.9 per cent)
  • Spirit Super (7.8 per cent)

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