Most choose industry or self-managed super
The biggest winners from the introduction of the superannuation choice legislation have been industry funds and self-managed super funds (SMSFs). While some thought that industry funds would struggle to compete under the new regime their market share has increased from 15.7 per cent in June 2005 to 17.3 per cent now, while SMSFs have gone from a 22.7 per cent share to 25.2 per cent. This has been at the cost of corporate funds where there are 70 per cent fewer funds now than when choice started, and public sector funds which have gone from a market share of 16.9 per cent to 15.3 per cent.
By The Australian Financial Review