Australian superannuation balances maintained their upward trajectory through February, weathering the impact of the Reserve Bank of Australia’s recent interest rate hike.
According to the latest data from SuperRatings, the median balanced option rose by 1.1% over the month, contributing to a solid 6.3% return for the financial year to date.
Growth options led the charge with a 1.2% increase, while capital stable options saw a more modest gain of 0.8%.
Pension accounts performed even more strongly, with median balanced and growth options both climbing 1.3%.
However, this momentum has faced a sharp reversal in early March; heightened market volatility has already begun to erode these gains, with estimates suggesting the median balanced option has retracted by 1.6% in the first two weeks of the month.