POWERED BY MOMENTUM MEDIA
SMSF inflows down; allocations stable
Average inflows into self-managed super funds (SMSFs) decreased in the December quarter, which also saw a slight increase in the average allocation to Australian equity holdings, according to survey data from SMSF administrators Multiport.
Average inflows dropped from $8,300 in the September quarter to $6,400, according to the survey of 1,350 SMSFs that collectively hold around $1.2 billion. This follows a general financial year trend where the bulk of contributions are usually made in the quarter to 30 June, according to Multiport.
Asset allocations remained generally steady, although there was a continued increase in the allocation towards Australian equities from 40.5 per cent to 41.4 per cent — a larger increase than could be explained purely by a 3.6 per cent rise in the ASX 200 Accumulation Index, Multiport stated.
Share purchase plans and entitlement offers from companies such as Westfield, Brambles and Tabcorp Holdings saw trustees increase direct equities holdings, and SMSFs continued to have a very high weighting to the Top 20 ASX listed stocks, Multiport stated.
Overall property allocations decreased from 16.3 per cent to 15.7 per cent, and overall property continued to be dominated by direct property holdings, which make up more than three-quarters of SMSF property assets. Poor performance in listed property funds, managed funds and syndicates saw allocations decrease to 3.3 per cent.
There was a slight decrease in fixed interest and international share holdings, which dropped to their lowest allocation level in 12 months and continue to be affected by a strong Australian dollar.
There was a slight increase in average cash holdings and other assets such as hedge funds, private trusts and agriculture, according to Multiport.
AUTHOR
Mike Taylor
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
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
