SMSF Data To June 2024 Data Released Sep 26 2024
ASIC recently released its SMSF statistics to June 2024. While it is a quarterly update, past quarters are also updated due to the lag time in processing SMSF funds. Additionally, full financial year data for many tables have been increased to now include 2022/23.
We have updated our SMSF Data Dashboards - Members Have Full Access to 14 dashboards, some including data based on the number of advisers.
A free limited version is will be available in a few days and made available to all users - See Free Dashboards in Menu.
A PowerPoint Version of ALL Dashboards is available at the store for $20.00 - Click To View More
Special offer of a 50% discount for the first month’s membership - enter promotion code 50%MONTH1 when prompted in sign up process.
Enter promo code 50%MONTH1 for 50% discount on first month Selecting 'YEARLY' cost is only $950
We have put our own overlay of the adviser population data, and we also break down some of the data such as fees and net movement of funds at an average level per super fund.
The dashboards are mostly interactive, allowing users to do their own analysis.
Key points of interest and dashboard number shown below:
D1, D2 - The SMSF opportunity continues to grow - Advisers have the potential for 40.78 SMSFs each and $62.39 million in assets, both up from last quarter. D2 indicates that opportunities have risen primarily due to a decrease in the number of advisers. SMSF growth remains stable, with 625,609 SMSFs now, up from 619,950 last quarter.
D3 - The rate of SMSF establishments still high -In the last quarter, 8,613 new SMSFs were established, up from 7,002 in June 2023. The net position for the quarter is now 5,659 after accounting for 2,954 windups. However, windups are likely to rise in the coming quarters as they take time to process through the ATO system.
D4 - Total Net Assets at a new record - Now at $957.1 billion, up from $890.2 billion in Q2 2023. It was $952.0 billion in Q1 2024.
D4 Average balance per SMSF and by member dropped -Now, the average is $1,529,807 per SMSF and $830,211 per member. (Note that medians are much lower than averages see D6 for details).
D5 The most popular asset range - For SMSFs, $500k to $1 million is 25.2% of all SMSFs. Most SMSF assets, 31.9%, are in funds with $2 to $5 million.
D7 - Listed equities is the preferred investment - At 28.92%, the largest portion is in shares, followed by cash and fixed interest at 16.97%. D9 shows that the size of an SMSF significantly impacts the assets held.
D10 and D11 - Males still dominate SMSF membership – In the quarter, 54.5% of new members in established SMSFs were male, and males represent 52.6% of all members. Among members, 21% are females earning less than $20,000 a year, the largest group by personal income.
D12 Flows for 2022-23 - Benefit payments rose to $43.82 billion from $35.49 billion in 2021-22. Net flows for 2022-23 hit a record negative of $13.21 billion, increasing from $8.67 billion in the previous year.
D14 - Fund and Assets By States - NSW's share of new SMSFs rose to 39.10% this quarter, up from the usual 33% annually. This increase came mostly at the expense of VIC, which fell to 25.7% this quarter compared to its average of about 30.3%. This is important to monitor when yearly statistics are published.
Total Net Assets and Averages by SMSF and Members
You may also find the latest APRA Super Fund statistics. We have built in elements of the SMSF data, plus Adviser and population stats. See Blog Post Here
The Full Suite of SMSF Funds Data and Analysis Dashboards are available at the Members Lounge And includes our latest data for APRA based Funds.
