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
The Grattan Institute has urged the federal government to directly provide annuities to retirees, saying only public intervention can ensure superannuation delivers secure incomes for life.
The super fund trustee will fully remediate all of its members the entirety of what they had invested in the Shield Master Fund, admitting to contraventions of the Corporations Act.
Australia’s annual inflation has risen again, clouding prospects for rate cuts and raising doubts over whether underlying pressures are easing or stalling.
Credential stuffing attacks have heightened cyber risks in the super sector, prompting regulators to demand stronger identity protections to safeguard members’ retirement savings.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
2
DomaCom DFS Mortgage
65.20 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 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?