POWERED BY MOMENTUM MEDIA
SMSF members to increase by one million
A million Australians are expected to enter into a self-managed superannuation fund (SMSF) in the next decade, according to the SMSF Association.
Speaking at a function last week, the SMSF Association’s chief executive, John Maroney said the association’s research showed that the growth of the SMSF sector has been driven by a strong desire by retirees for greater control of their financial destiny and more flexibility in their super arrangements.
“SMSFs are not for everyone, but more than one million Australians have chosen this superannuation option, and we expect another million Australians may follow suit over the next decade,” he said.
Maroney encouraged all sectors of the super industry to collaborate to boost confidence in the system and that the Global Centre of Excellence for Retirement Savings would reinforce the association’s leadership of the SMSF sector by providing research, policy positions, and thought leadership.
Also speaking at the event, Minister for Revenue and Financial Services, Kelly O’Dwyer, said: “The fact that individuals have freedom of choice over their own savings is a principle this Government supports, and we now see the self-managed sector emerging as one of the most dynamic parts of the financial system”.
“SMSFs have provided the Australia’s economy with a shot in the arm — creating jobs and supporting economic growth,” she said.
Recommended for you
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment