Super funds booming
Friday, September 28, 2007/
A record $42.2 billion was poured into super funds in the June quarter, according to figures from the Australian Prudential Regulatory Authority released yesterday.
The massive investment was no doubt spurred on by the one-off opportunity to contribute up to $1 million to super before the new super laws came into force on 1 July.
For the first time, contributions by members – $22.4 billion – surpassed those made by employers.
Self-managed super funds now represent 24.9% of assets in super, compared to 32.3% in retail funds, and 17.2% in the fastest-growing industry super funds.
SmartCompany will take a closer look at the statistics on self-managed funds and analyse their investment strategies and investment portfolios in a story by Michael Laurence on Tuesday. He’ll answer the question: How will DIY strategies change over the next 12 months?