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Hostplus holds on to MySuper top spot

Hostplus remained the best performing single-strategy MySuper option in the year ending April, as superannuation's rebound continued.

The Rainmaker MySuper Index returned 18.7% in the 12 months to April.

The month's returns were 70bps lower to 2.2%, as equities and property performed well but fixed income and cash fell.

"Fixed interest returns have fallen to a sector median of 1.0% while the cash index dropped to 0.0% for same period," Rainmaker said in a report.

Among default MySuper single-strategy options, Hostplus came out on the top with 24.4% in the year to April end. Hostplus' returns made a comeback in March.

It was followed by AustralianSuper (20.4%), Cbus and Vision Super (19.4% each) and TWUSuper (19.1%).

In last year's market turmoil, MySuper products took a beating.

Median returns for February and March 2020 stood at -3.3% and -9.5% respectively.

However, funds have continued to pare back losses in the strong rebound.

"It's worth noting that the strong post COVID-19 recovery is very similar to the returns rally observed after the Global Financial Crisis (GFC)," the report said.

"From November 2009 to May 2010, rolling one-year MySuper returns stayed above 10%, going as high as 19.3% in March 2010."

Read more: MySuperRainmaker