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
Long-term investors face a critical decision – stay the course or pivot, says leading economist Shane Oliver.
More Australians are turning to exchange-traded funds (ETFs) to grow their retirement savings, as evidenced by a series of recent product launches.
Superannuation trustees are failing grieving Australians, with an ASIC review uncovering excessive delays, poor service, and systemic failures in processing death benefit claims.
Prime Minister Anthony Albanese has called a federal election for 3 May, seeking to capitalise on Labor’s recent budget, just hours after Peter Dutton outlined his economic plan and accused the government of fuelling inflation through excessive spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 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?