The superannuation industry has experienced its lowest rate of return (ROR) in the March quarter since APRA started data collection.
The annual industry-wide ROR for entities with more than four members was -10.3 per cent, due to a significant downturn in global financial markets as a result of COVID-19, the regulator said in a report.
Total super assets over the March quarter fell by 7.8 per cent from $2.96 trillion to $2.73 trillion.
Compared to March last year, the drop in assets remained limited at just -0.3 per cent, while the total assets in MySuper products fell 0.4 per cent to $710 billion.
In contrast, assets in self-managed super funds dropped 4.1 per cent to $675.6 billion, from $704.2 billion.
Over the 12 month period, total contributions to the super industry came in at $121.1 billion. Net contribution flows for the year ending March 2020, which include contributions plus net benefit transfers, less benefit payments, were $45.4 billion.