SMSFs now largest Super Sector

Key points about SMSFs from the ATO recently released statistical report (based on information available as at June 2008) are:

• 387,000 SMSFs
• 746,000 members
• $358b in assets (almost half a Wall Street bailout)
• 70% of funds have 2 members
• 20% of funds have1 member
• 10% of funds have 3 or more members
• 60% of SMSF members are aged 45 to 64
• 1% of SMSF members are aged under 25
• 17% of SMSF member are aged 65 or more
• Average assets per SMSF member $489,000
• Average assets per SMSF is $938,000
• About 24% of SMSFs have assets less than $200,000
• Average admin, investment & other expenses per fund is about $4,700 per fund

(Assets and expenses figures are based on the 2006/07 year and all figures have been rounded).