Sent: 14-09-2011 13:50:06
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Comparing Expenses Between Some Large Super Fund
Last week the Australian Prudential Regulation Authority released the June '11 quarterly superannuation statistics.
The report provides data for large super funds with more than $50 in assets.
As always there's something worth noting.
In the June 2011 quarter, industry funds spent $285 million on total investment expenses. By way of comparison, retail super funds spent $108 million.
For the year to June '11, industry funds total investment expenses were $872 million whereas retail funds spent $378 million
On the other hand total operating expenses for retail super funds in the June '11 quarter wwere $717 million and industry funds spent $354m.
For the year to June '11, industry funds total operating expenses were $1.2 billion but for retail funds were $2.7 billion.
Total expenses for the 2011 financial year across all super funds (other than SMSFs) were $6.3 billion.
Perhaps some of the investment expenses in the retails space are not actually recorded in the retail super fund financial accounts because they have been included in life insurance statutory funds. But given industry funds have less assets than retail super funds ($250 billion compared to $369 billion) the differences are quite interesting.
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