Sent: 14-09-2011 13:48:04
In this issue:
Return to full article list
HomeFree weekly newsletterSelf Managed Super Fund ArticlesContact usLogin
Comparing Expenses Between Some Large Super Funds
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.
Finally please consider purchasing a copy of this book "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne
For details of the changes made from version 4 to version 5 visit: http://www.atcbiz.com.au/r.php?r=d5xcpch
As you'll see from the list there have been many changes.
Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb
This email is general in nature only and does not constitute or convey specific or professional advice. Legislation changes may occur quickly. Formal advice should be sought before acting in any of the areas discussed. Be aware that the information in these articles may become innaccurate with time. Responsibility is disclaimed for any inaccuracies, errors or omissions. Particular investments are neither invited nor recommended and hence this publication is not "financial product advice" as defined in Section 766B of the above legislation. All expressions of opinion by contributors are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated. No responsibility for the accuracy of the opinions or information contained in the contributor's articles is accepted by any other person or entity. Copyright: This publication is copyright. If you wish to reproduce this article you require a license, which can be purchased here, to do so.