Today the ATO released its Self-Managed Super Fund (SMSF) statistical report for the year ended 30 June 2012. Here is a summary of the latest findings.
Coverage
- There were 478,263 SMSFs in Australia holding the retirement savings of 913,550 members;
- 36,270 funds were established in the 2011-12 financial year, the highest number for five years;
- Only 994 were wound up during that period.
Asset allocation
- The average fund has total assets of $917,895 and the average member account is $480,537.
- As at 30 June 2012, 31% of assets were held in cash and term deposits.
- Around 30% of assets were in listed shares.
- Nearly 12% of assets were in commercial property.
- Only 4% of assets were in residential property.
- Smaller funds have about double the cash holdings of larger funds.
SMSF Asset Allocation |
||
|---|---|---|
| Asset | $m | % Total |
| Cash & term deposits | 134,103 | 30.5 |
| Listed shares | 131,317 | 29.9 |
| Non-residential property | 50,828 | 11.6 |
| Unlisted trusts | 37,777 | 8.6 |
| Other managed investments | 21,450 | 4.9 |
| Listed trusts | 19,136 | 4.1 |
| Residential real property | 15,557 | 3.5 |
| Other assets | 12,893 | 2.9 |
| Unlisted shares | 4,918 | 1.1 |
| Debt securities | 3,223 | 0.7 |
| Loans | 2,836 | 0.6 |
| Other overseas assets | 1,684 | 0.4 |
| Derivatives | 1,495 | 0.3 |
| Overseas shares | 1,355 | 0.3 |
| Artwork & collectibles | 709 | 0.2 |
| Overseas managed investments | 329 | 0.1 |
| Insurance policies | 179 | 0.0 |
| Overseas residential property | 123 | 0.0 |
| Overseas non-residential property | 82 | 0.0 |
| Total assets | 438,995 | 100.0 |
Demographics
- Nearly one-third of SMSF members are aged between 55 and 64.
- About 28% of members are aged over 65.
- Only 4.4% are aged under 35.
- 22% of SMSF members have a taxable income of more than $100,000 per annum.
- 69% of funds have two members; 23% are single member funds.
- Almost 32% of funds are based in NSW, 30% in Victoria, 17% in Queensland and 11% in Western Australia.