After 3 consecutive years of downturns, net flows to self-managed super funds have increased in the 2010-11 financial year.
Australians contributed some $24 billion into SMSFs in the 2010-11 financial year, according to the Financial Services Council’s (FSC) Bond Report. This represented a 15 per cent increase in contributions (almost $3 billion) from the previous year.
The largest growth rate was represented by discretionary contributions with a 19.8% increase to $24 billion between 2009-10 and 2010-11 while by comparison, employer contributions grew by 4.9% to $6.8 billion during the same period. This information is based on the most recent ATO data which is released annually with a one year lag.
Within SMSFs, listed & unlisted shares account for 31% of total assets, while cash & term deposits account for 30.5%.