Industry funds ride SMSF waveBY MELANIE TIMBRELL | FRIDAY, 20 JUL 2012 12:10PMWithin 24 months, all large industry and corporate super funds will be offering SMSF-like capability to members. |
Editor's Choice
Superannuation assets inch to nearly $4.8tn
Total superannuation assets hit nearly $4.8 trillion in the last financial year, marking a 9% rise, namely driven by the rise of industry funds.
Australian instos inject $705m into Nuveen strategy
Brighter Super and JANA are among a group of Australian institutional investors who have injected $705 million into Nuveen's Arcmont Asset Management European direct lending strategy.
Macquarie names new wrap platform lead
Macquarie has appointed a new head of wrap platform after Michelle Weber stepped down from the role following a 13-year tenure at the company.
Invesco APAC head to retire
Invesco Asia Pacific chief Andrew Lo will retire from the global asset manager next March after 32 years with the firm, closing out more than three decades spent building its presence and partnerships across the region.
Videos
Brought to you by ![]()
Further Reading
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
Liza McDonald
HEAD OF RESPONSIBLE INVESTMENT
AWARE SUPER
AWARE SUPER
Liza McDonald would have you believe her path from a legal secretary to the head of responsible investment at Aware Super was a matter of good fortune. Her career says otherwise. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
You have to be kidding right? This is a nice piece of spin by the Industry Funds sector, but those that run SMSFs know it is so far from the truth. Any SMSF using a half decent administrator spends very little time doing compliance, as it is handled mostly for them, at a fraction of the cost of the fees of some of the bug funds, yes even industry funds.
Rather than pushing out spin, perhaps the Industry funds should focus on what is really loosing their memberships. Anyone with reasonable assets in their fund will find it cheaper to run the fund outside of the Industry model. Those within the profile of the Industry funds are still better off within them, those that have accumulated wealth are better off outside.
Not only there will be an increase in SMSF but investors will be very conscious on Cost. Having noticed too many clients taking matters in their own hands because clients are tired of paying excessive fees on the service provided by some platform providers. SMSF cost is likely to fall in the next 12 - 24 months with more providers on the market. Similar to what Internet broking has done, over the past 10 years.
What's more, the "SMSF-like" capability referred to in the article looks nothing like an SMSF at all. For example, will they allow the purchase of direct property? direct bonds? Investment in any listed or unlisted managed fund in Australia? And will they allow a member to buy a growth asset in the accumulation phase and then sell it in the pension phase without paying CGT? I don't think so.
So my message to people who have accumulated a reasonable amount of super - start taking control of your super and consider an SMSF.