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SMSF inflows up, allocations steady
Self-managed super fund (SMSF) contributions almost doubled in the second quarter of 2010 to an average of $14,700 per fund, up from $7,500 in the first quarter, according to a Multiport survey of 1,200 SMSFs holding $1.1 billion in assets.
Multiport said the increase in the final quarter of the financial year is not surprising as members looked to maximise caps before the end of year cut off, but noted that despite the increase, total contributions were still down 22 per cent on the previous year’s figures.
Despite the poor market performance in the recent quarter funds held relatively stable allocations. Australian equity holdings slipped from 42.6 per cent to 40 per cent over the six months to June 30 despite an 11 per cent fall in the market. Fixed interest, property and cash allocations all increased slightly.
Despite the recent volatility in markets impacting on SMSF trustee decisions over where to invest, the average SMSF is still cashed up and looking for opportunities, Multiport said.
AUTHOR
Mike Taylor
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