Big performance by Statewide Super
Statewide Super has outperformed most of its industry competitors nationwide to be ranked third amongst MySuper funds in the past year, according to the independent industry analysts, SuperRatings.
The Adelaide-based fund, which has a diverse investment portfolio including stakes in the Adelaide Airport and Flinders Ports, recorded a MySuper return of 15.52 per cent for the year to 31 March.
The majority of Statewide’s investment options have been ranked by SuperRatings in the top quartile for the past year.
In his quarterly review published this week, head of investments at Statewide, Con Michalakis, said “the past quarter has been all about surging stock markets, higher residential property prices, interest rate reductions, Greece and finally, lower oil and iron ore prices”.
“Similar to the December 2014 quarter, our broad range of investment options continue to reward investors post the Global Financial Crisis, with the greatest returns coming from the higher-risk options,” Michalakis said.
“We have been in a broad-based bull market for most asset classes since the terrible lows back in May 2009. Nonetheless, we’re pleased that our members have enjoyed very good returns after their patience and perseverance. But we do caution on risk taking from here. Our preferred option for members is sticking to well considered long-term plans and goals.”
Statewide acting Chief Executive Nicolle Rantanen said the fund’s commitment to strong returns for members was supported by the latest ratings.
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“Our goal is simple – it’s to help our members save effectively for their retirement. The latest ratings reaffirm our investment strength in the market,” Rantanen said.
Business SA chief executive Nigel McBride said Statewide Super “is a great example of a company that is committed to South Australia and is punching above its weight on the national stage”.
Statewide Super manages over $6 billion in retirement funds for over 145,000 members, located predominantly in South Australia and the Northern Territory.
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