Original article by Glenda Korporaal
The Australian – Page: 21 : 26-Feb-20
Data from the Australian Prudential Regulation Authority shows that the total value of assets managed by the nation’s superannuation funds increased by 13 per cent to $2.951bn in 2019. Rice Warner forecasts that the super pool will increase to about $7trn by 2034, and so-called mega funds will dominate the sector. MySuper accounts boasted assets under management of $802bn at the end of 2019, up nearly 20 per cent, while self-managed super funds had assets totalling $739.7bn, an increase of 7.8 per cent.
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RICE WARNER ACTUARIES PTY LTD