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Superannuation fund values plummet
The World Today - Superannuation fund values plummet
Quote:
Retirees are being told not to panic about the $70 billion wiped from the value of super funds, because of the volatile stock market.
The super industry is warning investors not to switch funds because they've lost money in the short term.
Jeff Bresnahan is the managing director of research firm, SuperRatings. He says that while retirees may have lost six per cent of their investment in the past nine months, super funds have actually grown 80 per cent over the last five years.
Mr Bresnahan is speaking here to Brigid Glanville.
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Sim'
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