The Suncorp Brighter Super Pers – Suncorp Multi-Manager Growth Fund returned 9.6 per cent for the calendar year, scoring the highest among balanced options.
It was followed by Australian Ethical (8 per cent) and Vision Super (6.2 per cent).
Moving out to 10-year returns (per cent per annum), UniSuper and AustralianSuper had the highest-performing balanced options, tied in first place, with both giving 9 per cent over the last decade.
UniSuper, however, had performed more strongly during the 2020 year, with a 12-month return of 5.9 per cent, while AustralianSuper gave 5.5 per cent.
Cbus followed with 8.9 per cent, along with Hostplus (8.8 per cent) and CareSuper (8.5 per cent).
SuperRatings executive director Kirby Rappell commented the calendar year figures hid the roller-coaster movements during the mass market sell-off in March and the subsequent recovery.
“As members accumulate wealth over time, market movements will have a bigger impact on their account balance in dollar terms,” Mr Rappell said.
“This is a challenge for funds and members as the average super balance rises over $100,000, with the need for education and support paramount.”
When considering the risk taken to achieve the returns, QSuper had rewarded its members the most for taking on the market rise and falls with its volatility-adjusted return over the last seven years of 7.9 per cent per annum.
Although the return was lower than some of its peers, the fund had “done this with a smoother ride along the way, meaning it has delivered the best return given the level of volatility involved”, SuperRatings stated.
BUSSQ Premium Choice – Balanced Growth followed, with a 7.8 per cent rolling seven-year return, along with Prime Super (7.9 per cent) and Cbus – Growth (Cbus MySuper) (8.5 per cent).
“Overall, funds have done an excellent job of managing risks through a tumultuous period,” Mr Rappell said.
“Super is a long-term game, so it’s pleasing to see long-term returns remain healthy and ahead of their CPI+ targets.”
