Powered by MOMENTUM MEDIA
Powered by momentum media
Powered by momentum media
nestegg logo

Invest

Govt says trustees not over-investing in property

By Staff Reporter
  • March 11 2014
  • Share

Invest

Govt says trustees not over-investing in property

By Staff Reporter
March 11 2014

Assistant Treasurer Arthur Sinodinos has said he does not believe SMSFs are investing “too much” into property.

Govt says trustees not over-investing in property

author image
By Staff Reporter
  • March 11 2014
  • Share

 

Speaking at the ANZ Central Bank and Sovereign Wealth Fund Conference in Sydney last month, Senator Sinodinos addressed ongoing public speculation concerning SMSFs and property investment.

“Our superannuation pool now is about $1.6 trillion, one third of that is held through self-managed super funds, with one, two, three, or four people acting as trustees for their own superannuation fund,” Senator Sinodinos said.

Advertisement
Advertisement

“Now that is leading to some interesting things lately around whether they are investing too much in property or not. I do not think they are.”

govt says trustees not over investing property

This statement follows Senator Sinodinos announcing that the government is not looking to conduct a specific review of limited recourse borrowing.

“There is the financial [sector] inquiry, which is looking at the overall architecture of the financial system and as part of that it will also look at the role of the superannuation sector, the savings pool… of which SMSFs are about a third,” he said at the SMSF Professionals’ Association of Australia national conference last month.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on X for the latest updates
Rate the article

more on this topic

more on this topic

More articles