SMSF assets up by $77bn

SMSF assets have grown by 16.8 per cent to $531.5 billion in the past 12 months, according to the latest figures from APRA.

In the three months to 30 September 2013, SMSF assets increased by 4.8 per cent to $24.2 billion, and over the 12 months to 30 September 2013 grew by $76.5 billion

SMSF Professionals’ Association of Australia chief executive officer Andrea Slattery said she expects this growth to continue, with the increased contribution caps for older Australians taking effect and stronger returns in equities and property markets.

“There can be no doubting this trend, with the APRA figures also showing the number of funds grew by 6,933 or 1.4 per cent in the September quarter or by 31,375 or 6.5 per cent for the 12 months to 30 September.”

The total superannuation pool grew to $1.747 trillion, up by 8 per cent, in the September quarter, and for the 12 months to 30 September it grew by 19.7 per cent to $288 billion, according to APRA.

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