‘Stunning’ equity rallies lift super fund returns

Superannuation savers can expect a “better than expected” boost to their retirement nest eggs as new data shows that funds are on track to beat last financial year’s returns come June 30, on the back of “stunning” sharemarket rallies locally and abroad.

With a quarter still to go for FY2024, the median growth fund’s returns for the financial year to March’s end were just 0.4 percentage points below FY2023’s total return of 9.2 per cent, according to research house Chant West.