Default superannuation options still hold a greater share of the employer super market than the MySuper option, despite a fall in their share of funds under management in Q4 2014, a report reveals.
Data from the DEXX&R Analysis Market Share Report found that the MySuper option increased its share of the employer super segment by two per cent (to 11 per cent) in the December 2014 quarter, while the proportion of FUM in default options fell by five per cent to 27 per cent.
The report revealed that other investment options including multi-sector, Australian shares and Overseas investments account for 62 per cent of total funds under management and advice (FUM/A), up from 59 per cent in September 2014.
Over the year to December 2014, employer super FUM/A increased by 8.1 per cent to $130.3 billion, DEXX&R said.
While Personal Super FUM/A increased by 1.9 per cent to $200.5 billion in the last quarter of 2014, DEXX&R reporting that net cash flows were negative for the quarter after eight consecutive positive quarters.
Overall total retail and wholesale FUM/A increased by 10 per cent over the 12 months to December 2014, to $1.07 trillion, with the retirement incomes segment providing the largest increase in FUM, growing 15.2 per cent, to $160 billion.