The Australian market has been hammered over the last month and as of this morning, the ASX had only made up around 60% of the fall.
This, according to data released today, has dragged down returns by superannuation funds with the median balanced option recording a 0.6% fall for September.
Analysts SuperRatings say this has lowered the median return for the financial year to date to 1.6%, down from 2.1% at the end of August.
However, the return for the 12 months to September 30 is a healthy 9.2%.
Superannuation funds like Australian shares and this was the biggest driver of the fall. The benchmark S&P/ASX 200 Accumulation Index fell 5.4% in September.
Returns from international equities, however, improved, driven by a weaker dollar. The Australian dollar fell by 6.4% against the US dollar in September.
SuperRatings says returns across nearly all asset classes were negative in September.
Property options finished the month down 1.7%, while Diversified Fixed Interest was flat and Cash options returned 0.2%.