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Superannuation assets still growing
Australia's superannuation assets resumed their growth on the back of improving markets in the year to 30 June 2011, according to the latest data released by the Australian Prudential Regulation Authority (APRA).
The data, released this week, revealed total superannuation assets increased by 11.5 per cent for the period to $1.34 trillion.
It said that, of this, $810.6 billion were held in APRA-regulated superannuation entities and $407.6 billion were held in self-managed superannuation funds (SMSFs).
It said the remaining $117 billion was comprised of exempt public sector superannuation schemes ($80.9 billion) and the balance of life office statutory funds ($36.1 billion).
The APRA data again confirmed that SMSFs continued to dominate as a proportion of total assets, with small funds accounting for 31 per cent of total assets, while retail funds accounted for 28 per cent and industry super funds held 19 per cent.
The data also confirmed that small funds held the largest average account balance of $484,243, while corporate fund members held an average of $98,493, followed by public sector funds with an average account balance of $62,456.
The data revealed that the average balance in a retail fund was $24,546, while that of an industry fund was $21,895.
AUTHOR
Mike Taylor
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