Self managed superannuation funds: theory and practice
Article
Article Title | Self managed superannuation funds: theory and practice |
---|---|
ERA Journal ID | 35529 |
Article Category | Article |
Authors | |
Author | Phillips, Peter J. |
Journal Title | Journal of Law and Financial Management |
Journal Citation | 6 (1), pp. 8-22 |
Year | 2007 |
Place of Publication | Sydney, Australia |
ISSN | 1446-6899 |
Web Address (URL) | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1123043 |
Abstract | [Abstract]: In this paper, a small preliminary sample of self managed superannuation funds (SMSFs) is investigated. The contents of the actual SMSF portfolios are examined and a number of microstructure features that characterise the SMSF portfolios are described. These empirical characteristics are juxtaposed with theoretical and empirical finance to produce an analysis of self managed superannuation funds in theory and practice. A theoretical economic rationale for the existence of SMSFs is developed and microstructure features exhibited by the SMSFs such as home bias, under-diversification, high relative weightings of blue chip securities and the deployment of infrequent portfolio revisions (buy-and-hold strategies) are reported and discussed vis-à-vis theoretical and empirical finance. The outcome is a first step towards a more complete understanding of this increasingly important component of Australia's retirement income stream. |
Keywords | microstructure, self managed superannuation funds, SMSF |
ANZSRC Field of Research 2020 | 350204. Financial institutions (incl. banking) |
Public Notes | File reproduced in accordance with the copyright policy of the publisher/author. |
Byline Affiliations | School of Accounting, Economics and Finance |
https://research.usq.edu.au/item/9yvzy/self-managed-superannuation-funds-theory-and-practice
Download files
2006
total views395
total downloads3
views this month0
downloads this month