POWERED BY MOMENTUM MEDIA
Report to provide insights on actual cost of SMSF
Rice Warner is to launch a report which will analyse when self-managed superannuation funds (SMSFs) are cost-effective compared with other options.
The SMSF Association said the report would also provide insights about the investment performance of the SMSF sector compared with the Australian Prudential Regulation Authority (APRA) regulated sector over the past 15 years, and would be launched during its SMSF week from 23 to 27 November.
The association’s chief executive, John Maroney, said: “In the face of ongoing public debate about the appropriate minimum size of an SMSF, and ASIC statements regarding costs incurred by SMSF trustees, the association commissioned Rice Warner to update its 2013 report on the costs of operating an SMSF that was originally prepared for ASIC.
“Sponsored by SuperConcepts, this updated report analyses actual expense data for more than 100,000 SMSFs and provides invaluable insights about the actual costs of running an SMSF.
“With current Australian Securities and Investments Commission guidance advising caution on establishing SMSFs with balances below $500,000, the updated report throws new light on when SMSFs are cost-effective compared with other options.”
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
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(%)
