Bank staff retirement funds at Commonwealth Bank of Australia
(ASX:CBA) and Goldman Sachs have been ranked in the top three best performers by the Australian Prudential Regulation Authority.
The report, which spans over a nine year period, tracked the performance of Australia’s 200 largest super funds.
CBA’s staff fund delivered an average annual return of 7.8 per cent. The fund for Goldman Sachs employees enjoyed average returns of 9 per cent a year since 2004.
In contrast, over the 10 years to June, super funds have returned an average of 4.4 per cent a year.
Commonwealth Bank generated a net profit of $7.1 billion in the 2012 financial year.
