POWERED BY MOMENTUM MEDIA
Total super assets hit $3.3trn
Total superannuation assets have grown from about $1.9 trillion in 2015 to about $2.9 trillion in 2020 to what it is now at about $3.3 trillion as of the end of the 2021 financial year, according to the Australian Prudential Regulation Authority (APRA) annual superannuation bulletin.
A more detailed analysis showed that the total assets held by industry funds at the end of June, 2021, stood at $917 billion, against $690 billion held in retail funds.
This stood in contrast to six years prior when the total assets held by industry funds was $434 billion while $537 billion made up retail funds.
The APRA’s data showed that 2018 was the first year in which the industry funds began to outweigh retail funds in terms of total assets, changing tides when industry funds hit $631 billion.
At the end of the first half of 2021, total APRA-regulated assets stood at about $2.27 trillion, of which total assets in MySuper products were $901 billion.
Meanwhile, total self-managed super fund assets stood at $822 billion.
The average account balance was $106,162 for entities with more than four members and $59,768 for MySuper products.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
How stupid have the LNP been over the last twenty years? Too late, you lose.
I'm not sure? Can you expand on that?