Platforms tremendous affect grows – Monetary | Australian Markets
Platforms now account for practically a third of all selection superannuation product property, in line with the latest information from the Australian Prudential Regulation Authority (APRA).
The APRA information protecting the December quarter, reveals that Australian superannuation fund member property now stand at $2.56 trillion, with more than half of these property held in selection merchandise.
However it’s the rising affect of platforms which has stood out within the APRA information, with investments by way of platform merchandise accounting for $372.1 billion in property, representing 27.9% of all selection product property.
The info is important as a result of it displays the problem confronting APRA because it strikes in the direction of making use of the superannuation efficiency take a look at to selection merchandise.
The APRA information confirms that that there are fewer however bigger superannuation accounts within the selection sector, with 7.5 million account-holders invested throughout a selection of 792 merchandise representing $1,336 billion in in property.
This compares to 14.9 million member accounts throughout 56 MySuper merchandise which account for $1,076 billion on property.
The APRA information reveals the average member account steadiness in MySuper merchandise stands at simply $72,000 in comparison with $136,000 in selection accumulation merchandise, and $233,000 in selection transition to retirement merchandise.
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