Global exposure and diversification are the talk of the town. But not, it would seem, among all the nation's 600,000-plus self-managed super funds (SMSFs).
The Australian Taxation Office (ATO) publishes quarterly data on SMSF asset allocations. The latest figures (June 2023) confirm that the $876 billion invested in SMSFs is heavily concentrated in just two asset classes: cash ($147 billion) and Australian shares ($260 billion).
Together, these two asset classes account for close to half of all SMSF assets.
Even within their sharemarket holdings, SMSFs tend to
