Australian self managed super investors bucked the trend and poured billions into unit trusts in the June quarter to take advantage of the superannuation changes.
Self managed super funds (SMSF) accounted for $3 billion in additional inflows into the managed funds in the last quarter, according to actuarial and research house Plan For Life.
Over the period unit trusts received $13.3 billion excluding Colonial First State's one-off $7 billon loss to the Avanteos platform following the exit of Goldman Sachs JB Were.
Plan For Life said the figure - up on the March quarter inflows of $9.5 billion - was substantially above past averages.
In June last year $10 billion flowed into unit trusts, while in 2005 the figure was $7.5 billion.
The big winners were Westpac/BT Financial Group with $2.77 billion; Macquarie Bank with $2.32 billion; St George with $1.72 billion, CFS with $1.51 billion and National Australia Bank/MLC with $1.28 billion.
"This is the first time that inflows of this magnitude have been experienced, especially those related to small self managed super funds who have generally kept a large part of their investments away from the traditional managers," Plan For Life managing director Simon Solomon said.
