APRA data confirms growth of SMSFs

APRA/SPAA/smsf-professionals/smsf-sector/australian-prudential-regulation-authority/SMSFs/market-volatility/equity-markets/cent/director/

29 May 2013
| By Staff |
image
image
expand image

The Australian Prudential Regulation Authority's (APRA) quarterly superannuation statistics for March 2013 have highlighted the continuing growth and strength of the self-managed super fund (SMSF) sector, according to Graeme Colley, director, technical and professional standards for the SMSF Professionals' Association of Australia (SPAA).

Colley pointed out that the March quarter had seen SMSF assets increase by $22 billion or 33.9 per cent of the total $68.4 billion increase in superannuation assets in this last quarter, an increase meaning that total assets in SMSFs now stand at $496.2 billion or about 31.5 per cent of the total $1.58 trillion superannuation pool.

"What these numbers say about SMSFs is positive on two fronts," he said.

"First, that the fund trustees and their professional advisers have not missed the upswing in the equity markets in this quarter or over the past year.

"The investment performance of the SMSF sector has been on a par or better than the other sectors," Colley continued.

"(And) second, that despite the market volatility of the past years post the GFC, people still want to take control of their superannuation and be responsible for it."

"This reflects both a growing awareness by trustees of superannuation, and their capacity to be able to get professional advice on all issues pertaining to the management of their SMSF."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 2 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 3 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

6 days 20 hours ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

1 week 5 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

2 weeks 3 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND