POWERED BY MOMENTUM MEDIA
SPAA rubbishes SMSF decline rumours
Billions of dollars are still flowing into self-managed super funds (SMSF) and exceed the amount rolling out, which should put to rest arguments that the sector is in decline, according to an industry body.
SMSF Professionals' Association of Australia's (SPAA) director of technical and professional standards Graeme Colley said latest figures from the Australian Taxation Office (ATO) show there is still a drain of funds from APRA-regulated funds in gross and net terms.
The figures show that $75.6 billion was rolled into SMSFs and only $19.9 billion was rolled out over the five years to 30 June 2013.
"On average, and on an annual basis, $15.1 billion rolled into SMSFs and $4 billion rolled out of SMSFs," Colley said.
"These numbers hardly suggest an SMSF sector in decline or even treading water. Indeed, what they comprehensively show is that SMSFs retain their strong appeal."
Net reported results were an inward rollover amount of $55.7 billion over five years, with most amounts involving assets of between $500,000 and $5 million.
Benefit payment figures from SMSF reassert their role in providing retirement incomes and meeting government policy goal of super providing income streams for workers, Colley said.
However Tria Investment Partners recently used ATO figures to conclude net inflows into SMSFs were at their worst in 2013 since 2006, down from $16 billion in 2012 to $10.2 billion in 2013.
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(%)
