Total assets in the retirement incomes market are projected to double to $1.08 trillion over the next decade, says Dexx&r.
The Dexx&r Market Projections Report projected retirement income assets will increase from $527 billion at December 2014 to $1.078 trillion in December 2024.
The make-up of the retirement incomes sector is also set to shift over the next 10 years, said the report.
SMSFs in drawdown phase currently make up 62 per cent of the retirement incomes market, but that will decrease to 48 per cent of total assets by December 2024.
The retail sector is set to increase its stake in the market from 30 per cent ($160 billion now) to 38 per cent ($408 billion in 2024).
The annuity sector is projected to remain stable at two per cent of the market, while industry funds will double their pension accounts from six per cent to 12 per cent of the retirement incomes market.
Overall superannuation assets held in the accumulation phase are projected to increase by an average annual growth rate of 7.4 per cent to $3.1 trillion at December 2024.
Wilson Asset Management Active (WAM Active) has scrutinised investment firm Keybridge Capital’s conduct and corporate governance, as the t...
Roy Morgan figures have placed the proportion of the workforce that was unemployed in May at 14.8 per cent (2.09 million Australians), doubl...
Magellan Financial Group has rolled out its new active ETF after recording $288 million in net outflows in May, as institutional investors e...