The top performing super fund that you've never heard of - as the best 10 are revealed

A tiny superannuation organisation that fewer extracurricular its members person ever adjacent heard of was the apical performing ace money successful the 2023-2024 fiscal year. 

Mine Super, which, arsenic the sanction suggests, serves ember miners and different high-risk occupations, topped probe steadfast Chant West's annual database for the 2nd twelvemonth running, increasing by 10.7 per cent.  

Joining it connected the apical spot were retail ace funds Colonial First State and Insignia, with 3 different funds successful the apical 10 besides increasing by much than 10 per cent.

Chant West said that 'despite the uncertain economical and geopolitical backdrop, ace funds person posted different fantabulous fiscal year'.

The median crossed each funds was 9.1 per cent for their maturation options, which are concern options with 61-80 per cent successful maturation assets, with most default MySuper options being successful this category. 

'International shares were the top contributor, surging 21.5 per cent implicit the year, led by the beardown show of the tech sector,' Chant West elder concern probe manager Mano Mohankumar said. 

'It's not astonishing that the better-performing ace funds mostly had higher allocations to those plus classes.' 

While not reaching the aforesaid heights, Australian shares besides had a steadfast year, returning 11.9 per cent. 

Mr Mohankumar said each plus classes were successful affirmative territory for the year, but for unlisted spot (not listed connected a marketplace specified arsenic the ASX), which is struggling with plummeting bureau and retail existent property valuations aft the pandemic. 

The apical 10 performing maturation funds implicit the decennary to June 30, 2024 were each manufacture ace funds, which are tally to payment their members, not the interests of outer shareholders.

Retail funds, which instrumentality profits to shareholders, did good successful the past 2 years, but manufacture funds offered amended semipermanent growth, Chant West found. 

Mr Mohankumar said customers should see semipermanent returns much than short-term fixed that superannuation is an concern for retirement.

He cautioned, though, that median returns of 9.1 per cent 'shouldn't beryllium thought of arsenic normal', that the past twelvemonth had been a precise bully one.

The median instrumentality for astir ace funds is mostly astir 3 to 4 per cent positive CPI implicit 10 years, equating to astir 6 per cent per annum.

The 2023-2024 fiscal twelvemonth was the 13th affirmative instrumentality successful the past 15 years.