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Class releases June 2016 SMSF Benchmark Report, including informative analysis of lower balance funds

Thursday 15 September 2016 – Class, the developer of Class Super and Class Portfolio, has today released its June 2016 SMSF Benchmark Report, an overview of data about SMSFs and administrators.

The June Report also provides analysis of smaller balance funds. The additional analysis has been compiled in response to recent industry commentary suggesting that self managed super funds with smaller balances are not cost effective over extended periods. To apply some hard data to those discussions, Class conducted analysis on funds with balances of less than $50,000. The findings reveal:

  • the population of these lower balance funds is largely made up of funds that are new and growing, or shrinking and exiting;
  • on average these lower balance funds come and go from the <$50,000 bracket in about 2 years; and
  • given this high turnover, it is incorrect to assume that funds with low balances are sitting around for many years paying ongoing high fees.

Kevin Bungard, CEO of Class, comments: “Our inaugural SMSF Benchmark Report, published last quarter, was extremely well received across the industry. Looking at the dynamics of smaller balance funds for the June Report has been an informative exercise, with insightful findings that bring clarity to recent industry discussions around the cost effectiveness of smaller balance funds over time.”

The Report can be downloaded here.

Background

The Class SMSF Benchmark Report is a statistical analysis of the 110,000+ Self Managed Super Funds administered on Class Super, representing 19.2% of the estimated 577,236 SMSFs in Australia today.
The quarterly Report is compiled using a selection of de-identified data extracted from across the Class Super user base.

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