SMSF Data To June, 2023

This week, ATO released its statistics until the end of June 2023. While it is a quarterly update, the nature of the ATO updates, is that past quarters are also updated due to the lag time in processing SMSF funds.

We have put our own overlay of adviser data, and we also break down some of the data such as fees and net movement of funds at an average level per super fund.

We have also updated the SMSF Statistics dashboard, making them bigger and easier to use. The updated version sits in our Members Lounge, which can be accessed for as little as $95.00 per month.

The front page of the dashboards includes a full summary of the data, highlighting net movement and change that can be seen over the quarter and past trends. The dashboards are mostly interactive, allowing users to do their own analysis.

Some key points include:

• The mass windups of SMSF that normally occur in June have not been reported to date. Expect to see a jump in windups at the next quarterly update

• The ‘opportunity’ for advisers in terms of the number of SMSFs and total assets continue to grow, albeit at a slower pace.

• The total number of new established SMSFs is still solid, despite a small fall in the last quarter

• Total net assets at $844.9 Bil, slightly higher than last quarter but below its all-time high of $870 Bil, back in March 2022.

• Listed shares are still the largest asset type, followed by cash and term deposits

• The net flow of funds for SMSFs is negative, driven by benefit payments being paid out. At the fund level, net outflow is (-$17,560) for 2021/22 year.

• Transfer of funds between SMSFs and other funds - still positive for SMSFs

• NSW is still the largest state for both the number of SMSFs and total assets.

The chart below is one of many. It highlights the ‘potential’ opportunity for advisers in terms of the number of SMSFs and net assets.

Potential opportunity for advisers.
Total SMSFs and Assets divided by the number of current advisers over each time period.

The SMSF Funds Data and Analysis Dashboards are available at the Members Lounge