![]() AIST is the peak industry body for the $450 billion not-for-profit super sector which includes industry, corporate and public sector funds covering the super interests of nearly 2/3 of the Australian workforce. Further enquires: Janet de Silva, AIST media 0425 745 095 DISCLAIMER This summary is intended as information only and should not be used in the place of legal or other advice. Australian Institute of Superannuation Trustees expressly disclaims all liability and responsibility to any person who relies in full, or in part, on any of the information contained in this summary, or is omitted from it. Ground Floor, 215 Spring St ¦ MELBOURNE ¦ VIC ¦ 3000 ¦ Telephone: 03 8677 3800 ¦ Fax: 03 8677 3801 © 2009 Australian Institute of Superannuation Trustees ABN 19 123 284 275 January 20th 2010 10/10 for Not-For-Profit super during the Noughties The Australian Institute of Superannuation Trustees today welcomed the release of new figures confirming the dominance of not-for-profit funds in superannuation performance tables over the past decade. According to just-released SuperRatings data, the top 10 super (balanced) funds during the past 10 years were all not-for-profit funds, which include industry and public-sector funds as well as corporate funds (ie those established by employers for their employees). AIST CEO Fiona Reynolds said the results were good news for the more than seven million Australians with their super in not-for-profit funds and highlighted the importance of Australians learning more about the fees they pay to their super funds and how their retirement savings are invested. “With super, it’s long-term performance that really matters and the not-for-profit funds are clear leaders over the past five and 10-year periods,” said Ms Reynolds. Unlike retail funds (which include funds offered by banks and life insurance companies), not- for-profit funds do not pay fees or commissions to financial advisors. “While the ‘Noughties’ proved a challenging and volatile decade for super investors, it also showed us that markets do recover and that there can be dangers in making short-term, knee-jerk decisions when you are investing for the long-term”. Ms Reynolds said the spectacular rebound of Australian equities over the past year had helped funds recover some of the lost ground from the global financial crisis to the point where many were delivering returns above their long-term targets. Over the ten year period, those with their super in balanced funds that give them exposure to shares and other growth assets have done better than those with their super in more conservative, cash options. However, SuperRatings figures also show that the performance gap between super funds has widened over the past five years with the bottom quartile of funds achieving annual compound returns of 3.8 per cent, compared to 5.6 per cent for top quartile funds. Further media enquiries: AIST CEO Fiona Reynolds: 0408 336 116; AIST Media Manager Janet de Silva: 0425 745 095 ![]() AIST is the peak industry body for the $450 billion not-for-profit super sector which includes industry, corporate and public sector funds covering the super interests of nearly 2/3 of the Australian workforce. Further enquires: Janet de Silva, AIST media 0425 745 095 DISCLAIMER This summary is intended as information only and should not be used in the place of legal or other advice. Australian Institute of Superannuation Trustees expressly disclaims all liability and responsibility to any person who relies in full, or in part, on any of the information contained in this summary, or is omitted from it. Ground Floor, 215 Spring St ¦ MELBOURNE ¦ VIC ¦ 3000 ¦ Telephone: 03 8677 3800 ¦ Fax: 03 8677 3801 Email: info@aist.asn.au ¦ website: www.aist.asn.au © 2009 Australian Institute of Superannuation Trustees ABN 19 123 284 275 |