Industry Pension Funds Post Best Aussie Returns in Past Decade

(Bloomberg) -- A not-for-profit retirement fund for Australian retail workers is the nation’s top-performing pension fund since the global financial crisis.

Retail Employees Superannuation Pty’s core strategy option returned a yearly average of 6.1 percent during the decade to Sept. 30, just ahead of CareSuper’s 6 percent, SuperRatings data released Thursday show. Melbourne-based Host-Plus Pty, whose members mostly work in hospitality, came in third. The top performers in the past 10 years were all union-backed not-for-profit industry funds, beating bank- and wealth-manager owned pools.

The average fund managed to beat the benchmark ASX/200 Accumulation Index, which returned an annualized 3.1 percent over the past decade.

©2017 Bloomberg L.P.