The ATO has released the June 2021 quarterly statistical report revealing the total estimated assets of SMSFs have reached just over $822 billion, along with a record growth trend in establishments seen across the year.

The ATO has released its Self-managed super fund quarterly statistical report – June 2021, revealing the latest statistics on the SMSF sector.

The report shows that there are now approximately 597,900 SMSFs and an estimated 1,114,529 members. These figures point to increased growth in total fund numbers, which have increased to 4 per cent from the last financial year, compared with the yearly average of around 2 per cent each year over the last five years. 

The total estimated assets of SMSFs increased from $787 billion in the March 2021 quarter to just over $822 billion in June 2021. The top asset types held by SMSFs (by value) are listed shares (28 per cent of total estimated SMSF assets) and cash and term deposits (18 per cent). 

This 2020-21 financial year saw more than 25,312 new SMSF establishments showing continued growth compared with previous years, while wind-ups have also hit record lows with 2,187 recorded, around an 80 per cent drop from previous year averages. 

Fifty-three per cent of SMSF members are male and 47 per cent are female, while 86 per cent of all SMSF members are 45 years or older.

Individuals aged 35 to 44 continue to make up the majority of most of the new establishments and have now risen to 10.7 per cent in total age distribution of members in SMSFs as at the end of June 2021.

The average assets per SMSF member were $696,000 and the average assets per SMSF were $1.3 million. The median assets per member was around $414,912, while the median assets per SMSF had increased up to $733,926. 

Meanwhile, member contributions into SMSFs were up to $12.6 billion, while employer contributions into SMSFs were around $5.4 billion.

A more detailed overview of the ATO statistical report can be found here.

Source: SMSF Adviser