Nest eggs on a super ride as funds report best growth since before the GFC THE average retirement nest-egg has grown by more than 12 per cent so far this financial year, the strongest performance by superannuation funds since before the global financial crisis. Two separate analyses have revealed median balanced superannuation funds - the most common variety - have soared by more than 12.5 per cent since July, the best result since 2007. In the past decade, the average superannuation nest egg has grown 7.2 per cent each year. That number more than halves to an average of just 3.2 per cent when the past five years of returns are calculated, with the GFC to blame. But Chant West director Warren Chant said that with another quarter to go it appeared Australians were on track for pre-GFC double-digit growth in their retirement savings this financial year. "This year looks as though it's going to be another really good year," he said. It's been a terrific nine months and in the last 12 months and for the year to March, they've earned 11 per cent; for the nine months it's about 13 per cent. SuperRatings' research analyst Leo Tratras said fund members had a promising start to 2013 before experiencing a slight drop last month due to the banking woes in Cyprus. "January and February were quite strong but in March there was only a small fall of 0.2 per cent," he said. It shouldn't come as a surprise given how strong the first few months of the year were; despite that, the quarterly performance was still up over 4 per cent. SuperRatings figures found the median balanced option rose by 2.6 per cent in January and a further 2 per cent in February before falling by 0.2 per cent last month. But Mr Tratras said the March result was a good one compared to the sharemarket's 2.2 per cent fall. When you compare that fall in the wider Australian sharemarket to the relatively small drop in super funds it's quite a good performance. The bad news isn't as bad as it could have been. A majority of Australians have their retirement savings invested in their fund's default option, which is usually the balanced investment option that has growth-style assets between 60 and 76 per cent.