Assets in self-managed super funds (SMSFs) allocated to retail fund managers have grown more quickly than overall assets over the past three years, according to Plan For Life Data.
In the three years to September 2012, retail managed funds in SMSFs grew from $25 billion to $36 billion, or a 45 per cent increase, while overall assets grew 24 per cent to $458 billion. This means retail managed funds have increased from around 7.3 per cent to 8.5 per cent of the overall SMSF market.
The Plan For Life data also found an almost even split in total SMSFs assets between pre-retirees and retirees, with assets in pre-retirement ahead fractionally by 50.34 per cent to 49.66 per cent.
While companies such as OnePath, Mercer and netwealth have played a key role in the provision of administrative and investment services, there has recently been a move to aggressively target some of the older administration service providers, Plan For Life stated.
This may signal new developments in this key sector, according to Plan For Life, which added there were substantial opportunities emerging for existing players and new entrants to this market.
