Upwards trajectory for SMSFs

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Self-managed super funds are continuing their steady upwards trajectory, having increased in assets by $76.5b in the past year.

This afternoon, the Australian Prudential Regulation Authority (APRA) released its September Quarterly Superannuation Performance publication.

Total estimated assets, including the assets of SMSFs and the balance of life office statutory funds, rose to $1.75 trillion on 30 September.

Contributions to funds with at least $50m in assets over the September quarter were $21.5b. Total contributions for the year ending September were $90.3b – down 0.8% from the previous year.

This quarter, SMSFs hold $531.5b in assets, up from $507.3b in the June quarter. The increase is marked and an improvement on the March quarter, where assets held was at $499.2b.

Net contribution flows – contributions plus net rollovers less benefit payments – totalled $7.4b in the September quarter. Net contribution flows for the year ending September were $32.6b, down 7.3 per cent from the previous year.

APRA released a discussion paper on changes to its superannuation statistics on 14 November, in which it proposed to revise the Quarterly Superannuation Performance statistics publication and introduce a Quarterly MySuper Statistics report.

This handles changes to the superannuation reporting framework, and meets the authority's legal obligation to publish MySuper product-level statistics.

Submissions on the proposals are due by 31 January.

Select statistics will be released on an interim basis for at least this quarter and next, while the consultation is carried out.

More:

Superannuation statistics change planned

Winning tips for SMSF diversification

Too much focus on the detail: APRA policy head

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