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SMSF market declined by 9.4% in March quarter
Self-managed super assets within the Australian market decreased by $69.7 billion over the March quarter, new APRA figures reveal.
Total SMSF assets were at $675.6 billion as of March 2020, a decline from the $745.3 billion recorded in the December 2019 quarter, and a 4.1 per cent drop from March last year when total SMSF assets stood at $704.2 billion.
However, the number of SMSF funds in the market stood at 596,180 as of March 2020, which was up from 591,391 funds in December 2019 and from 586,178 funds in March 2019.
As well as a decrease in SMSF assets, there was also a decrease of 7.7 per cent in total superannuation assets, comprising a decrease of 7.4 per cent in APRA-regulated assets, and a decrease of 6.5 per cent in exempt public sector superannuation schemes assets.
Total superannuation assets stood at $2,731.4 billion in March 2020, a 0.3 of a percentage point fall from March last year when total super assets was $2,738.8 billion.
Adrian Flores
Adrian Flores is the deputy editor of SMSF Adviser. Before that, he was the features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.
You can email Adrian at adrian.flores@momentummedia.com.au.
Stats update from APRA. Shows 596k SMSFs at Mar2020. This number is likely to decline when stats catch up with funds being wound up. For 2015 APRA reported there were 542k. SMSFs - growth in last 5 years around 2%pa.
From 2010 to 2015 the number of SMSFs grew from 423k to 542k - 5% pa growth
Seems 5 years ago it was a great time to be getting out of the business. Congratulations to the sellers - Cavendish, JustSuper, SuperCorp, SMSF Works, ANZ Bank & recently More Super.
Commiseration to AMP SuperIQ (also AMP)
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