How much super have you lost?

[Harriet]

Hi All,

Just thought it would be interesting - albeit a little depressing - to see if others' super funds are bleeding as badly as mine. I can't believe how much money my fund has lost in the past 14 months. Between December 07 and December 08, my balance dropped over 30%. And in in the past 2 months alone, it has dropped another 12%!

Silly question - but could my super actually drop to zero??

Meanwhile, how are y'all faring?

Harriet

 

[Pushka]

So are you saying it has dropped 42%? Can you calculate the loss on the financial year? Otherwise I cant compare. I gained in the period 07/08 around 3% I think; wheras industry funds were down a few percent. This financial year, it has fallen 22%! In an SMSF.

 

[AlmostBob]

Unless you plan on using it tomorrow, its not an issue

 

[twobobsworth]

around 60%

 

[Propertunity]

This financial year, it has fallen 25%! In an SMSF.

I'd fire the fund manager

 

[Qlds007]

A that rate i think the Trustees will need to drastically review the investment choices being made by the fund.

 

[Minxdamanx]

Ugh!

Mine 17% and my husband's 11%.

Both retail funds.

 

[Bill.L]

Hi all,

My wife's super fund is a defined benefits fund, with the govt. The only reason she is still in it is because 15-17 years ago it was "Jeffed". At the time the govt offered employees an out to a cheaper fund that would save the govt $20-$30B, and save the employees 1% pa on their super payments. As far as I was concerned if it saved the govt money, it could only come out of the retirees pockets.

My super has been in cash for the last 2 years, seriously thinking of going the equities option NOW. Figure that if things get to the 'financial armageddon' stage it really doesn't matter.

bye

 

[Peter 14.7]

Lost 10% till June 08 then moved to cash and gained 3%. Staying cash atm.

Peter

 

[jaycee]

mine is in a defined benefit scheme

 

[Rob Williams]

I'm down about 25% over the last 12 months. I selected the more "aggressive" option for my fund. So, even though the loss seems greater than some others, the gains up to 12 months ago were greater than some other funds, too.
I'm signing the papers for my SMSF tomorrow, then embarking on a stratgey to invest in property and shares through my own fund. I can't do any worse than the current fund managers and given my track record with my portfolio, I'm likely to do a whole lot better.

 

[kathryn d]

about 50 %....

 

[PrimeCommercial]

Unless you plan on using it tomorrow, its not an issue

That's the way I think of it too.
On Paper my super is down only 12% which I am quite surprised about

 

[sphinx]

Unless you plan on using it tomorrow, its not an issue

It took 23 years for the stock market to climb back to the before crash level in 1929 (in nominal term). I am not sure how many 20+ years one has o wait to recover the loss and get some investment return. I would say, if you don't plan on using it in 40 years, its not an issue.

On the other hand, the loss in super is widely "under-reported" now because of the typical 30% unlisted portfolios which fund managers can postpone its re-valuation up to a year. EVEN the market recovers this year (with a positive), you will still see a large loss because early unreported losses will have to be smoothed out. And these delayed losses have to be completely bore by people who still remain in a non-cash option.

 

[Pushka]

A that rate i think the Trustees will need to drastically review the investment choices being made by the fund.

I should add that for the three years before that growth was over 25% a year; my fund value is only back to where it was 2 years ago! Cant have gain without the pain.

For those reporting smaller losses in commercial funds, are those figures as of March 1? Coz the beginning of this calendar year have been hellish!

 

[Pushka]

I'd fire the fund manager

Yeah, the remuneration sucks anyway!

 

[Rob G.]

mine is in a defined benefit scheme

Hope there is money in the fund when the time comes to withdraw.

Probably OK with Govt schemes, but some smaller private employer defined benefit funds have been on very long contribution holidays during the previous prolonged high growth phase and won't have a hope of catching up now.

Your "entitlement" is only as good as the fund's asset backing !!!

Cheers,

Rob

 

[ruroshin]

Mines gone up by 20% in the past 12 months

 

[Pushka]

Oh yeah, and do you want contributions included in the growth? I ignored mine.

 

[Bill.L]

Hi all,

Sphinx,

It took 23 years for the stock market to climb back to the before crash level in 1929 (in nominal term)

In the AMERICAN stockmarket!!

Last time I looked, we were in Australia!! Here, we exceeded the August '29 high in October '34.


bye