Total superannuation closing in on $3 trillion in assets

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Total assets within superannuation is closing in on the $3 trillion mark.

The latest statistics from APRA have over $2.927 trillion in superannuation as at the end of September 2019.

Superannuation assets increased by 7.1% over the 12 months to the end of September 2019, though this was uneven across the industry. Industry funds increased by $94.7 billion, or 14.5%, while retail funds were up $4.3 billion, or only 0.68%. SMSFs were up $17.1 billion, or 2.35%.

Industry super funds remain the largest sector, followed by SMSFs and then retail funds.

Total superannuation by fund type - September 2019

Data source: APRA Quarterly Superannuation Performance Statistics September 2019

Industry funds received a net inflow of rollovers over the year to the end of September of $17.512 billion, while retail funds has a net outflow of $31.647 billion. Industry funds sent a net of $378 million to SMSFs in rollovers, while retail funds rolled over a net of $2,198 billion

In terms of ‘net contributions flows’ (contributions less contributions tax plus net rollovers less benefit payments), industry funds were up $46.143 billion for the year to September 2019, while retail funds were down $31.495 billion.

Across the whole super industry, the Rate of Return for large super funds (more than four members) was 7.4% for the year ending September 2019. The average five year annualised ROR was also 7.4%.

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