Low returns

Growth superannuation funds have posted their worst returns since the financial crisis. Returns on the funds grew 0.5 per cent in the year to June 30, compared with a 9.2 per cent in the year to June 2011, according to superannuation fund research group Chant West. It was the worst result since 2009, when funds plunged 12.9 per cent. "The 2012 financial year was a tough one for funds to navigate because there were opposing forces at work that shifted market sentiment to and fro and prevented any clear pattern emerging," director Warren Chant said.