Throughout the year, MySuper funds demonstrated robust performance with consistent monthly gains. The index recorded only three months of negative returns, illustrating resilience in challenging economic conditions. November stood out as the most profitable month with a return of 2.5%, whereas March reflected the lowest performance with a negative 2.1% return.
The executive director of research at Rainmaker, David Gallagher, highlighted the period as one of the most consistent in the past decade. He attributed the strong performance to increased exposure to international equities and the depreciation of the Australian dollar against the US dollar. Gallagher also noted that MySuper assets have grown at levels surpassing historical averages, even amid global economic challenges and post-pandemic inflation.
This impressive growth is further underscored by the scale of MySuper investments—with approximately 15 million accounts and combined assets of $1.1 trillion. Though all asset classes reported positive returns, equities were the primary driver of these record-breaking results.
The success of MySuper in the face of economic adversity demonstrates the sector's resilience and capacity for sustained growth. It also offers promising news for Australian consumers and businesses reliant on superannuation funds for their retirement planning.
Looking ahead, the financial sector will be closely watching how MySuper and other funds adapt to ongoing economic shifts. Continued strategic investment in international equities and adaptation to currency fluctuations could remain key factors in their future success.
