SMSF assets grew 122 per cent for the five years to June 2010, twice as quickly as the total industry

Tim Stewart, Money Management
The SMSF Professionals’ Association of Australia (SPAA) has welcomed an Australian Tax Office report that shows self-managed super fund (SMSF) assets grew twice as quickly as the total industry for the five years to June 2010. According to the report, SMSF assets grew by 122 per cent for the five years to June 2010 – double that of the growth for the total superannuation sector (60 per cent). ARTICLE
Andrew Nelson, FN Arena News
In the ATO report, Self Managed Super Funds: a Statistical Overview, the tax office says that the much of the growth is due to the increase in salary contributions and net rollovers into SMSFs over the past few years coupled with the deposit of investment earnings. This trend is better explained by Self Managed Super Fund Professionals Association (SPAA) CEO, Andrea Slattery, who said that SMSF members tend to be the most engaged people in the superannuation industry. She notes that it’s these hands-on investors that work to ensure their own funds operate and perform well. ARTICLE

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