SMSFs lead the super pack, again

Note: Every three months, we update this article with the latest data on superannuation funds issued by the Australian Prudential Regulation Authority (APRA). This article contains the latest statistics available, as at 10 June 2010. We expect APRA to release further data at the end of September 2010.

Individuals running DIY super funds now control 31.8% ($400.2 billion) of the $1.26 trillion invested via Australian superannuation funds. Ten years ago, DIY super funds represented one-tenth (10%) of all superannuation money.

SMSFs lead in market share

The money held in DIY super funds, officially called self-managed super funds (SMSFs) exceeds the super money invested via retail funds (27.9%, $351 billion), industry funds (18%, $227 billion), public sector funds (14.1%, $177 billion) and corporate super funds (4.8%, $61 billion) according to figures released by APRA on 10 June 2010. APRA stands for the Australian Prudential Regulation Authority, the prudential regulator of all super funds, with the exception of DIY super funds, which are regulated by the Australian Tax Office.

SMSFs and industry funds lead in asset growth

All superannuation sectors grew in terms of total assets during the 3 months to March 2010, with the SMSF sector growing by 3.6% in terms of fund assets, and the industry fund sector also growing by 3.6%. The value of assets held in retail super funds grew by 1.6% during the 3 months to March 2010, while public sector funds grew by 2.7% and corporate funds grew by 1.7%.

I explain the five main super fund sectors in the article, Comparing super funds: Who’s who in the super zoo. The article is updated quarterly with the latest statistics on the types of funds and how many super funds of each type are available.

Related articles:

1. Comparing super funds: Who’s who in the super zoo
2. SMSFs: More money for Superannuation Complaints Tribunal
3. Ten handy uses for the APRA200 performance list
4. THE SOAPBOX: Defending decent SMSF trustees
5. Exposing the performance history of Australia’s largest 200 super funds