SMSF assets approach $750b mark

SMSF assets increased by 4.5 per cent for the year to the end of March, trailing the growth in Australian Prudential Regulation Authority (APRA)-regulated assets, which rose by about 8 per cent.

The numbers were released as part of the “APRA Quarterly Superannuation Performance” data for March 2019 and showed SMSF assets increased from $714.7 billion to $746.6 billion over the year.

At the same time, APRA-regulated assets increased by 7.9 per cent to $1836.2 billion from $1701.7 billion, and My Super products witnessed the highest growth rate at 10.8 per cent from $643.5 billion to $713.3 billion.

APRA indicated superannuation assets totalled $2.8 trillion at the end of the March quarter 2019, increasing by 6.7 per cent since the March quarter 2018.

Over the March quarter, SMSF assets increased by 4.2 per cent, from $716.2 billion to $746.6 billion, compared to a rise of 5.3 per cent in total superannuation assets and an increase of 5.7 per cent in APRA-regulated assets.

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