The number of self-managed super funds (SMSFs) continues to grow, but trustees are getting younger more affluent and seeking greater offshore investment, according to data from the Australian Tax Office (ATO).
ATO statistics show the number of SMSFs in Australia now stands at 528,701, and the age profile of members has changed dramatically in the past nine months.
More than six in 10 SMSF investors (62.1%) are now aged between 34 and 54, compared to only 36.6% in July 2013. Growth in SMSF holdings of overseas assets including residential property, non-residential property, shares and managed investments outstripped overall asset growth in the last quarter.
This link will take you to an overview of CoreData’s analysis of the ATO statistics, including:
– Growth in SMSFs and members over the nine months to March 2014
– Age distribution of SMSF members
– Income distribution of SMSF members
– Total SMSF Asset Allocation
– Quarterly growth of SMSF Asset Holdings
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