Business
COVID-19 panic: SMSFs fled shares, then missed market rally – Motley Fool Australia
SMSF trustees are optimistic about a market recovery though they switched to more ‘defensive’ investments.
Australians running self-managed superannuation funds (SMSFs) escaped from the share market in droves when the COVID-19 pandemic struck.
This means they likely sold as the market crashed, then missed out on the subsequent rally, which has seen the S&P/ASX 200 Index (ASX: XJO) gain 33% since 23 March.
The findings were shown in a Vanguard Australia study of 3,000 SMSF trustees on their investment priorities.
“Some 55 per cent of SMSF trustees took a more defensive stance and increased thei…
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