APRA data confirms growth of SMSFs

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

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago