Total superannuation assets have grown by 10.0% over the 2016/17 financial year to $2.324 trillion, according to the latest APRA statistics.
Total assets in APRA-regulated super funds stood at $1.444 trillion at 30 June 2017, up 11.7% from a year earlier. This includes $594.7 billion in MySuper assets, up 25.5%.
Assets in SMSFs reached $696.7 billion, up 9.8% for the financial year.
For funds with over four members both contributions and benefit payments were up. Total contributions for the 2016/17 financial year for such funds were $116.9 billion, up 12.2%. Total benefit payments were up 15.1% to $74.5 billion.
APRA says that the industry wide Rate of Return (ROR) for super funds with more than four members in 2016/17 was 9.2%. The five year average annualised ROR to June 2017 was also 9.2%
“As at the end of the June 2017 quarter, 49.8 per cent of the $1.5 trillion investments were invested in equities; with 22.8 per cent in Australian listed equities, 22.9 per cent in international listed equities and 4.0 per cent in unlisted equities. Fixed income and cash investments accounted for 33.3 per cent of investments; 20.9 per cent in fixed income and 12.4 per cent in cash. Property and infrastructure accounted for 13.3 per cent of investments and 3.7 per cent were invested in other assets, including hedge funds and commodities.”