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Gen Y SMSF investors more confident

Gen Y SMSF investors more confident

New research has found younger Self Managed Super Funds (SMSFs) are more confident when it comes to investing in more complex asset classes.

Commissioned by CommBank and the SMSF Association, Women and SMSFs: A study of SMSFs, surveyed over eight hundred Self-Managed Super Fund (SMSF) trustees to better understand the dynamics of the SMSF market and their behaviours, confidence levels and outlook.

With over one million Australians currently a member of an SMSF, representing a total investment pool of $576bn, the research found Gen Y investors (aged 18-34 years) were generally more optimistic about the future for different asset classes and more confident in managing more complex assets classes such as alternative investments and hybrid securities.

They were also found to be more self-sufficient, with Gen Y SMSF investors less likely to have set up their SMSF off the back of advice from a financial planner or accountant.

The report further found significant generational differences when looking at the reasons why investors set up an SMSF, with approximately 58% of Baby Boomers (50-64 years) and Traditionalists (65 years and older) indicating they had set up an SMSF to gain more control over their investments, compared to 40% of Gen Y and Gen X (35-49 years).

With more than four in ten SMSF trustees were also found to have experienced a life event since establishing their SMSF that could have had significant implications for their super.

For more information access a copy of the full report