Australian investors are seeking more direction from superannuation funds on where to put their money amid continuing volatility in financial markets and weak investment returns.

A survey of more than 9,000 investors and super fund members conducted in May, June and August showed investors’ needs had shifted over the last 12 months, researcher Investment Trends says.

Most are now craving direction from super funds on how best to navigate choppy markets, whereas a year ago they simply wanted more information from super funds to better understand the environment, Investment Trends’ principal Mark Johnston says.

“Continued low returns are now having a real financial impact, so just keeping clients informed is no longer enough.”

Retirees and investors with big portfolios but fixed incomes are the most worried of those surveyed, the researcher says.