Superannuation assets surged 15.5% last financial year to reach $1.6 trillion, reveals the regulator APRA in its just released June report. The pace of the asset surge corresponds with the super fund industry achieving its best investment returns in four years at 15.5%, as reported last month by Rainmaker from its Selecting Super June 2013 crediting rates survey. Industry funds grew even faster as they climbed 21% during the financial year, far outstripping the 15.4% growth in self-managed superannuation funds (SMSFs), the 15.3% growth in public sector funds, the 13.7% growth in retail funds and the 10.0% growth in corporate funds. The strong growth of industry funds relative to other sectors suggests that the product innovation in the retail sector is yet to translate to material impact on the market.
Despite the relatively slow growth of SMSFs notwithstanding the June 2013 estimate of the sector’s size would have been impacted by the normal data lag that usually occurs in that sector, SMSFs have nonetheless confirmed their premier position as the largest market segment with $505 billion.
The second largest segment was retail funds with $422 billion, followed by industry funds with $323 billion, public sector funds with $257 billion and stand-alone corporate funds with only $62 billion. As reported by Alex Dunnin at Financial Standard MORE HERE
The Australian Prudential Regulation Authority’s (APRA’s) Quarterly Superannuation Performance report found total superannuation assets increased by $217.2 billion .. (for quarter) 30 June 2013, and $35.1 billion (2.2 per cent) for the June 2013 quarter. While the self-managed superannuation fund (SMSF) sector still makes up the largest proportion of the industry at 31.3 per cent of assets, it recorded the smallest increase at 0.8 per cent. By contrast, public sector funds increased by 3.9 per cent in the 12 months to 30 June 2013, industry funds’ assets were up by 3.8 per cent, corporate sector funds increased by 2.2 per cent and retail funds were up by 1.8 per cent. Reported at Investor Daily MORE HERE
The full APRA report announcement and link to report is available at – APRA releases quarterly superannuation statistics for June 2013 where APRA also states that – “Outward rollovers exceeded inward rollovers in the June quarter. Retail, industry, corporate and public sector funds had net outward rollovers of $145 million, $347 million, $627 million and $659 million, respectively.”
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