The latest superannuation statistics from APRA reveal that the total amount of super fell in the last quarter of the 2018 calendar year.
Over the December 2018 quarter total superannuation assets fell by more than $100 billion, or -3.64%. $74.4 billion of this related to APRA-regulated super funds (-3.95%), while assets in SMSFs fell $23 billion (-3.07%).
Jeremy Cooper, who chaired the Super System Review, said the results were “sobering”.
A fall in superannuation in the last quarter of 2018 was not unexpected; firm Chant West found that super funds managed to, just, produce positive returns for the calendar year after losses late in the year.
Though total superannuation assets still increased across 2018, up 1.3% to $2.65 trillion. Total APRA-regulated super fund assets were up 2.2% to $1.74 trillion. The highest growth was in the MySuper area – which is part of APRA-regulated funds – up 5.3% to $670.6 billion. Meanwhile total SMSF assets were down 0.2% to $726.5 billion.
“The annual industry-wide rate of return (ROR) for entities with more than four members for the year ending December 2018 was 0.2 per cent. The five year average annualised ROR to December 2018 was 5.9 per cent,” says APRA.