DIY super goes to cash and term deposits
The self managed superannuation funds sector continued to expand during the 2008 March quarter. The number of SMSFs at the end of March was 378,656, with 729,851 members. There were 6,272 new funds established compared to 5,959 SMSFs set up in the 2007 December quarter. Like the rest of the superannuation sector, SMSFs experienced a drop in total asset values from $300 billion in December 2007 to $286 billion at the end of March. Asset allocations saw an increase in cash, debt securities and term deposits to $58.6 billion compared to $56.8 billion in the previous quarter. Investments in listed shares fell from $107.4 billion in December to $34.3 billion in March.
Source: Investor Daily