A statistical summary of self managed superannuation funds
The SMSF sector is the largest superannuation sector by number of funds and asset size. As at 30 June 2009, there were around 410,000 SMSFs, representing 99% of all superannuation funds, with over $332 billion or 30.9% of total superannuation assets ($1.08 trillion). The sector has about 772,000 members, which comprises about 7% of the roughly 11.6 million members in Australian superannuation.
The SMSF sector has reached its leading asset size position in the superannuation industry, surpassing the retail sector in 2009, through rapid growth in recent years, increasing from $132 billion to $332 billion in the five years to 30 June 2009; an annualised growth rate of 20%. Over the same period, APRA regulated funds grew at an annualised rate of 8%.
In the five years to 30 June 2008, the SMSF sector received between 20 and 41% of total annual superannuation contributions.
SMSFs hold a majority of their assets directly; with nearly 60% of assets held in cash, term deposits and Australian listed shares. SMSFs are exposed to little direct overseas investments.
Over the three years to 30 June 2008, the asset weighted average returns of the SMSF sector were higher than those of the non SMSF sector.
73% of SMSFs had more than $200,000 in assets.
The average SMSF member balance was $456,000 which is more than 18 times the average account balance of less than $25,000 for all superannuation funds with more than four members.
Members aged 50 and above represented 67% of total SMSF membership, while in other superannuation sectors only 22% cent of members were aged 50 and above.
Since 1 July 2007, new funds have been established at the rate of 2,000 to 3,000 a month (that is approximately 30,000 per year) reduced by approximately 3,400 wind ups a year.
According to ATO estimates for financial years 2006, 2007 and 2008, the return on assets for the SMSF sector was 12.6%, 16.9% and 6.1%, respectively. By comparison, at a whole of industry level, APRA regulated funds with more than four members returned 12.2%, 13.3% and 7.8%, respectively.
The operating expense ratio for the average SMSF was 0.69%, down from 0.86% in 2006, a fall of nearly 20%.
As at 30 June 2008, 58.8% of SMSF assets were held directly in two asset classes: Australian listed shares (32.4%) and cash and term deposits (26.4%). The default investment strategies of APRA regulated funds, at the same time, showed average allocations to domestic equities of 29% and fixed interest of 26%.
Manoj Abichandani
SMSF Specialist Advisor
SMSF Specialist Auditor
The SMSF sector is the largest superannuation sector by number of funds and asset size. As at 30 June 2009, there were around 410,000 SMSFs, representing 99% of all superannuation funds, with over $332 billion or 30.9% of total superannuation assets ($1.08 trillion). The sector has about 772,000 members, which comprises about 7% of the roughly 11.6 million members in Australian superannuation.
The SMSF sector has reached its leading asset size position in the superannuation industry, surpassing the retail sector in 2009, through rapid growth in recent years, increasing from $132 billion to $332 billion in the five years to 30 June 2009; an annualised growth rate of 20%. Over the same period, APRA regulated funds grew at an annualised rate of 8%.
In the five years to 30 June 2008, the SMSF sector received between 20 and 41% of total annual superannuation contributions.
SMSFs hold a majority of their assets directly; with nearly 60% of assets held in cash, term deposits and Australian listed shares. SMSFs are exposed to little direct overseas investments.
Over the three years to 30 June 2008, the asset weighted average returns of the SMSF sector were higher than those of the non SMSF sector.
73% of SMSFs had more than $200,000 in assets.
The average SMSF member balance was $456,000 which is more than 18 times the average account balance of less than $25,000 for all superannuation funds with more than four members.
Members aged 50 and above represented 67% of total SMSF membership, while in other superannuation sectors only 22% cent of members were aged 50 and above.
Since 1 July 2007, new funds have been established at the rate of 2,000 to 3,000 a month (that is approximately 30,000 per year) reduced by approximately 3,400 wind ups a year.
According to ATO estimates for financial years 2006, 2007 and 2008, the return on assets for the SMSF sector was 12.6%, 16.9% and 6.1%, respectively. By comparison, at a whole of industry level, APRA regulated funds with more than four members returned 12.2%, 13.3% and 7.8%, respectively.
The operating expense ratio for the average SMSF was 0.69%, down from 0.86% in 2006, a fall of nearly 20%.
As at 30 June 2008, 58.8% of SMSF assets were held directly in two asset classes: Australian listed shares (32.4%) and cash and term deposits (26.4%). The default investment strategies of APRA regulated funds, at the same time, showed average allocations to domestic equities of 29% and fixed interest of 26%.
Manoj Abichandani
SMSF Specialist Advisor
SMSF Specialist Auditor
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