Fact check: Have SMSFs peaked?

A major fund is claiming customers are giving up on DIY funds and transferring their super to industry funds – but are we really seeing a slowdown?

Summary: Australian Super is claiming that increased inflows from SMSF accounts into their funds is an interesting development in the DIY fund landscape – but ATO data does not suggest there is a significant slowdown in the space. The average account balance being rolled into other funds is $70,000, indicating that these transfers are from accountholders who have drawn down a significant amount of their super already and are not in a position to keep managing their SMSFs, or those who have started funds only to realise it isn’t for them.

Key take out: The number of new DIY fund establishments over the past two quarters have fallen either side of the five year average, and evidence of a slowdown is yet to emerge from ATO data.

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