SMSF trustees have taken a more conservative approach to trading in response to the superannuation changes outlined in the 2016 federal budget, research from CommSec has shown.
The company found that while overall trading volume for the year remained the same, a trend towards smaller deal sizes emerged through the year.
“The beginning of this trend correlated with the budget announcement, suggesting SMSFs were more cautious with their investment strategies due to the uncertainty,” said Marcus Evans, Commonwealth Bank head of SMSF customers.
“As investors waited to see whether the proposed changes would be legislated by Parliament, they also reduced their voluntary contributions.”
Mr Evans said voluntary contributions also decreased in the September quarter, with CommSec’s analysis finding the average voluntary contribution falling from $10,750 to $3,040.
CommSec’s analysis also found that SMSFs were “the largest net investors in the ASX Top 20” during 2016 and were the most active investors in the retail sector, trading 30 per cent more in this segment than non-SMSFs on average.
The corporate regulator addressed concerns with the new regime.
The digital solution has launched.
The digital platform for financial advisers and accountants has confirmed the new appointment.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.