SMSFs dominate APRA data
The latest Australian Prudential Regulation Authority (APRA) data has confirmed the dominance of self-managed superannuation funds (SMSFs) in terms of the proportion of assets held by a single sector of the industry.
The APRA data, released last week, revealed that SMSFs accounted for 31.2 per cent of assets, followed by retail funds with 27.5 per cent and industry funds which accounted for 18.6 per cent of total assets.
The June quarter data found that public sector funds accounted for 15.1 per cent of assets, while corporate funds continued their retreat to account for just 4.5 per cent.
The data also confirmed consumer preference for SMSFs over small APRA funds, revealing that the latter accounted for just 0.1 per cent of total assets.
AUTHOR
Mike Taylor
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