The Performance of Australian Superannuation Funds

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Abstract
This paper analyses the investment performance of Australian superannuation funds and their managers over the period from January 1973 to June 1981. The analysis indicated that both the funds and the managers performed poorly over the first two and a half years. It was found that the poor performance during these years outweighed the improved performance in subsequent years, resulting in an overall poor performance over the total period studied. Only one manager displayed a superior investment ability and this appears to be attributable to his ability to adjust the beta of his portfolio to suit market conditions.