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.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 22 Sep 2017ASIC permanently bans unlicensed SMSF spruikerBy Staff Reporter
- 22 Sep 2017Advisers recognised at Women in Finance AwardsBy Staff Reporter
- 21 Sep 2017Advisers not fully aware of LIF impacts: ZurichBy Staff Reporter
- 21 Sep 2017Red tape forces SMEs to cut staffBy Adam Zuchetti and Aleks Vickovich
- 21 Sep 2017Bitcoin 'dangerous and speculative', says MagellanBy Tim Stewart
- 20 Sep 2017ANZ calls for adviser transparencyBy Killian Plastow
- view all