Self-managed superannuation funds (SMSFs) continue to hold the largest proportion of funds in the superannuation sector, according to the latest data released by the Australian Prudential Regulation Authority.
The data, covering the March quarter, revealed that SMSFs accounted for 31.9 per cent of all of Australia’s superannuation assets, followed by retail funds with 27.3 per cent.
Industry funds accounted for 19 per cent of total assets.
The only significant issue for SMSFs in the latest APRA data is that they appeared to grow less quickly in the March quarter, with assets growing by 3.3 per cent compared to 4.4 per cent for industry funds and just 2.3 per cent for retail funds.
While the APRA data revealed most traditional superannuation fund money was invested in wholesale trusts or individually managed mandates, external data suggested that a significant proportion of SMSF assets were invested in cash or similar products.
