First Super has again delivered strong long-term results for local members, with an annual return for the 2018/19 financial year of 6.70% for its default option, and five and ten-year returns of 8.68% and 8.84% respectively.
First Super is the industry super fund for workers in the timber, pulp and paper, and furniture and joinery industries. The Fund has a strong footprint in major workplaces on the NSW South Coast and is focused on helping members attain and maintain a dignified retirement.
First Super CEO Bill Watson said today that the results were strong given the market volatility and global uncertainty around trade over the last 12 months.
"Superannuation is a long-term proposition, so while we are pleased with a solid result for our members over the past 12 months, the five and ten-year figures are in many ways the real numbers to watch."
First Super also performed well across other options over the past 12 months; its "Shares Plus" option delivering 7.91% (10.85% over 5 years, 11.02% over 10 years) the Cash option returning 2.04% (2.35% over 5 years, 3.11% over 10 years) the "Conservative Balanced" option delivering 5.80% (6.92% over 5 years, 7.69% over 10 years) and the "Growth" option delivering 7.18% (9.59% over 5 years, 10.72% since inception).
Mr Watson said the results showed that relatively small funds can compete on performance with much larger superannuation funds.
"First Super's value proposition is that it is close to its members as a small industry fund designed for workers in particular sectors, and a consistently top performer in the marketplace."
