According to the data, extracted using tools provided by Amazon Web Services, the average member balance per fund at 20 June 2015 was $235,439, compared with $228,599 at 20 June 2014.
The statistics also show asset allocation has not changed significantly, according to BGL. Based on the data, cash and term deposits increased from 31.69 per cent to 32.30 per cent of total SMSF assets while listed securities shifted from 32.78 per cent of total SMSF assets to 34.92 per cent of all SMSF assets.
BGL said real property increased slightly from 11.40 per cent in 2014 to 11.86 per cent in 2015.
Managing director Ron Lesh said BGL aims to support both small and large administrators through Simple Fund 360.
“Our philosophy has always been ‘from little things big things grow’ and we encourage businesses to invest in SMSF education and technology to build their SMSF businesses,” said Mr Lesh.
I wonder to what extent the fringe players introducing “much” smaller accounts into the SMSF space has contributed to this figure?
It strikes me that unless there is a major issue with contributions or a big fall in % returns, then many more small balance accounts are being set up.