SMSF managed funds allocation grow
Managed funds have been increasing as a proportion of assets in self-managed superannuation funds (SMSFs) over the past four years, according to Graeme Colley, ING Australia superannuation strategy manager and technical manager for Super Concepts.
A survey by Super Concepts found the average SMSF increased its allocation of managed funds from 21.07 per cent in 2004 to 22.36 per cent in 2007.
“We are still seeing a quarter of the average SMSF portfolio invested in managed funds, which is quite a reasonable level of allocation,” Colley said.
Super Concepts also found there has been a decrease in cash, including fixed interest investments, held by SMSFs over the past four years, falling from 18.99 per cent to 18.58 per cent in the period.
This too represents a “reasonable level of allocation” to cash by SMSFs despite “the minister (Nick Sherry) recently saying there is too much cash in SMSFs”, he said.
The survey found a decrease in direct property allocation as a trend, falling from 3.98 per cent in 2004 to 3.26 per cent in 2007.
AUTHOR
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
