Super funds back on track

Australia’s superannuation funds seem to have recovered from the global financial crisis and are on track for further growth in 2010.

Research consultants SuperRatings say the median balanced super fund option grew 1.3 percent in November, the eighth positive monthly return in the past nine months.

Managing director Jeff Bresnahan expects total returns for calendar 2009 to be between 10 and 12 percent, the best result since 2006 and a swift recovery on calendar year 2008’s loss of 19.67 percent.

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