SMSF to overtake Corporate funds
Self managed superannuation funds (SMSF) are likely to overtake corporate funds in terms of amount under management in the next 18 months, according to Connelly Temple Technical Services.
Assistant technical services manager, Chris Hodge says the recent shift from master trusts and public offer funds towards SMSF's has significantly increased the demand for advice on a whole range of issues.
Hodge says recent Australian Prudential Regulatory Authority (APRA) figures indicate that the SMSF sector has become the equal strongest growing sector in the year to September 2000.
ARPA figures recorded a growth figure of 28 per cent. At present Australia's superannuation assets total $489 billion with SMSFs accounting for $71 billion.
"The Australian public are becoming more aware of finance and their superannuation. There is a better knowledge of superannuation issues overall," says Hodge.
"Over the past few years people have been reluctant to not stick with their employers sponsor, but these days more people want control over their investments," he says.
Hodge says the market's demands for control has saturated corporate funds to a certain degree, levelling off the public's demand for them.
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