Super funds love bank deposits

People with self-managed superannuation funds still prefer cash and term deposit holdings, despite low rates.

The Australian Taxation Office reports that the number of people in the 528,000 self-managed funds in Australia passed the one million mark in early 2014.

SMSF cash and term deposit holdings increased by 7.2 per cent over the last 12 months to a total of $156.2 billion.

Source: Banking Day