Australian superannuation assets are now sitting at $1.1 trillion, according to the Australian Prudential Regulation Authority's (APRA) quarterly superannuation performance publication, released today.
Assets have grown 17.1 per cent in the past twelve months and 4.4 per cent in the March 2007 quarter.
According to Financial Services Partners chief executive Geoff Rimmer, this is the best year in financial services for around 15 years.
"We took more money, $7 million, in the first half of yesterday than we did in the corresponding week a year ago," Rimmer said.
"Over the last six weeks we are 400 per cent up, but if you overlay that into the year you are up about as much as you would have expected after the opportunity Mr Costello provided us."
The government's new changes will continue to drive growth, Assistant Treasurer Peter Dutton said.
"With 1 July 2007 rapidly approaching, superannuation is about to become an even better investment for Australians," Dutton said.
