November surge drives funds into the black for 2020
16/Dec/2020
Super funds are closing in on a ‘better than expected’ result for the 2020 calendar year. Share markets surged in November, powering the median growth fund (61 to 80% in growth assets) to a return of 4.9% for the month. That drove the cumulative return for the first eleven months of the year to 2.6%. Markets are up slightly in December so far and we estimate that, with two weeks to go, the calendar year return is now sitting at about 3%. A final result in the black, even a small one, would represent an excellent outcome for fund members given the disruption and economic damage caused by COVID-19. And let’s not forget that only a year ago members were enjoying one of the strongest years in the past 20, with growth funds returning 14.7% for calendar 2019.
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