Self-managed superannuation funds (SMSF) are beginning to appeal to a much younger demographic, Australian Tax Office (ATO) data shows.
In the last nine months, the profile of the typical SMSF investor has changed markedly, with 62 per cent now in the 34 to 54 age range, compared to just 36.6 per cent in July last year, according to the ATO.
SMSFs are also starting to win favour with a more affluent demographic, with 20.5 per cent of SMSF members earning between $100,000 and $200,000, compared to just 14.4 per cent in July 2013.
The bulk of SMSF holdings (32 per cent) remain in stocks, according to the data, followed by cash (28 per cent).
