Latest APRA Statistics
Super Assets Keep Increasing
APRA has estimated that total superannuation assets to be $1,400 billion;
- SMSFs hold 31.3% of superannuation assets and constitute the largest superannuation sector;
- retail funds hold 26.6% of superannuation assets while industry funds hold 19%; and
- public sector funds hold 15.9% while corporate funds hold 4.0%.
During the June 2012 quarter, SMSF assets increased by 0.5% while industry funds’ assets increased by 0.6%. During the same period, retail funds’ assets decreased by 1.3% and corporate funds’ decreased by 2.0%.
Surprisingly, public sector funds’ assets increased by 1.9%. This increase was primarily due to a very significant one off employer payment to State Super, a NSW public sector scheme.
Consolidation within the Super Sector
Consolidation of the APRA regulated sector continues with a 14% reduction in the number of corporate funds (from 143 to 122) and an 8% reduction in the number of industry funds (from 61 to 56) over the 12 months to 30 June 2012. Consolidation also occurred within the retail fund sector but at a much lower rate of 1.5% reduction in the number of retail funds (from 137-135) in the same 12 month period.
The number of SMSFs in the 12 month period to 30 June 2012 increased by 8% or by 35,276 with 478,263 SMSFs at 30 June 2012.