The shift to SMSFs, particularly among younger, wealthier Australians, is becoming increasingly apparent as they seek engagement and the ability to purchase property and complex assets, according to the latest update from CoreData.
The latest retirement report from CoreData shows that the average balance of SMSFs has grown steadily over the past 10 years, outpacing all other fund types.
According to this year’s report, the average member balance in SMSFs is above $800,000, compared with the average balance in retail funds of below $225,000. Industry fund member balances are even lower, as are public funds.