SMSFs continue to dominate the Australian superannuation funds landscape in terms of both assets and growth, according to the latest data released by the Australian Prudential Regulation Authority (APRA).
The APRA data revealed that in the December quarter 2011, total estimated superannuation assets increased to $1.31 trillion, while over the 12 months to December there was a 1.2 per cent increase in total estimated superannuation assets.
It said that during the quarter, SMSF assets increased by 2.2 per cent, public sector funds’ assets increased by 2.1 per cent, industry super funds’ assets increased by 2.0 per cent, retail funds’ assets increased by 1.6 per cent and corporate funds’ assets actually decreased by 0.7 per cent.
The APRA data revealed that, as at 31 December 2011, SMSFs held the largest proportion of superannuation assets, accounting for 30.6 per cent of assets, followed by retail funds with 27.4 per cent of total assets.
It said industry funds accounted for 18.9 per cent of total assets, public sector funds 15.7 per cent and corporate funds 4.1 per cent.
As well, it said small APRA funds held 0.2 per cent of total assets.
