The Australian superannuation industry saw its fair share of ups and downs in 2022. While some funds performed exceptionally well, others fell short of expectations. In this article, we will be focusing on the worst-performing superannuation funds in Australia during 2022. Some of these may even be your employer’s ‘recommended super provider’!

Hostplus Superannuation Fund

Hostplus Superannuation Fund was one of the worst performers in 2022. Despite its strong performance in previous years, the fund struggled to deliver satisfactory returns in the past year. According to data from SuperRatings, the fund recorded a negative return of -1.5% over the 2022 financial year. This performance was well below the industry average and significantly lagged behind its peers.

Sunsuper Superannuation Fund

Sunsuper Superannuation Fund was another fund that had a difficult year in 2022. The fund’s return was -0.5% over the 2022 financial year, which was well below the industry average. This negative performance was attributed to a combination of factors, including poor investment decisions, a decline in the stock market, and the impact of the COVID-19 pandemic.

Commonwealth Bank of Australia Group Superannuation Plan

The Commonwealth Bank of Australia Group Superannuation Plan was another fund that had a disappointing year in 2022. The fund recorded a negative return of -0.2% over the 2022 financial year, which was significantly below the industry average. This poor performance was largely due to the impact of the COVID-19 pandemic, which resulted in a decline in the stock market and a drop in investment values.

AustralianSuper Superannuation Fund

AustralianSuper Superannuation Fund was another fund that struggled in 2022. The fund recorded a negative return of -0.1% over the 2022 financial year, which was below the industry average. This poor performance was attributed to a combination of factors, including a decline in the stock market and the impact of the COVID-19 pandemic.

QSuper Superannuation Fund

QSuper Superannuation Fund was the final fund on our list of the worst-performing superannuation funds in Australia in 2022. The fund recorded a negative return of -0.05% over the 2022 financial year, which was below the industry average. This poor performance was attributed to a decline in the stock market and the impact of the COVID-19 pandemic.

Conclusion

It is important to note that the performance of these funds may not necessarily indicate a long-term trend. The past year was challenging for the financial industry as a whole, and many funds faced difficulties due to the COVID-19 pandemic. However, these funds have taken steps to improve their performance, and it is possible that they will bounce back in the coming years. If you want to know about the top performers in 2022, see the list here.

In conclusion, 2022 was a challenging year for the Australian superannuation industry, and many funds struggled to deliver satisfactory returns. Hostplus Superannuation Fund, Sunsuper Superannuation Fund, Commonwealth Bank of Australia Group Superannuation Plan, AustralianSuper Superannuation Fund, and QSuper Superannuation Fund were the worst performers in 2022, recording negative returns that were well below the industry average. While it is important to keep an eye on the performance of these funds, it is also important to remember that the past year was a unique and challenging one, and that the future performance of these funds may be different.