Game changer in six months: AMP SMSFsBY LAURA MILLAN | THURSDAY, 21 FEB 2013 12:40PMAMP Group's self-managed super fund business is now managing more than 9,100 SMSF accounts, more than treble the number it managed in the first half of last year. |
Editor's Choice
ASIC to take 'balanced' stance on super advertising ban rules
The corporate regulator said it promises to take a "balanced" approach to enforcing new rules around any advertising of superannuation funds during the employee onboarding process, which take effect in a few weeks.
BlackRock expands active ETF range
BlackRock is set to expand its Australian ETF range with the launch of the iShares World Equity High Income Complex ETF (ASX: WYNC), an actively managed strategy targeting investors seeking both income and broad global equity exposure.
T. Rowe Price names head of intermediary for Australia
T. Rowe Price has appointed a head of intermediary for Australia, following a three-month absence in the role after Jonathan Ross' departure in March.
FEATURE | Aged care: The longevity dividend
It's not just Australia that is dealing with an aging population, in fact the World Health Organisation estimates by 2030, one in six people will be aged 60 years or over.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
According to the latest ATO statistics, there were 496,028 SMSFs at end the end of December 2012, being established at over 2,000 a month. So call it 500,000 now.
I make 9,100/500,000 less than 2%, so let's not get too excited. SMSF administration is still predominantly a 'cottage industry' of thousands of accountants.
Over the past year AMP Super has announced previously the acquisitions of
Cavendish (5000 funds)
Smart Super (1000 funds)
Multiport (2500)
That leaves SuperIQ & Ascend with 600 funds
And as there are approximately 496,000 SMSFs at Dec12 (as per the ATO statisitical report) the 9100 funds represents less than 2% of the wholesector (not 7% as claimed above).
Regarding whether it is 2% or 7% doesn't matter. 9,100 funds is a hell of a lot!
Good luck getting a return on that investment