Self-managed superannuation funds (SMSFs) are becoming increasingly popular as a way to invest retirement savings. The balances within SMSFs are growing too.

According to the ATO SMSF quarterly statistical report, the number of SMSFs grew by 7.4% to 680,301, with 52,020 establishments during the year.

According to the latest Class annual benchmark report, members aged 25 to 49 continue to make up the majority of members in newly established Class SMSFs. In FY26, they accounted for 63.2% of members in newly established funds, up from 59.5% in FY26.

Now let’s look at the balance within these SMSFs.

Large balances are getting larger

As you’d expect, compounding and contributions are helping increase the balance of these SMSFs.

According to Class, SMSFs with balances above $2 million accounted for 27% of Class SMSFs in FY25, up from 26.1% in FY24 and 23.6% in FY21. FY25 is the latest year with complete data because not all balances and contributions have been processed yet in Class’ software.

The percentage of Class SMSFs with balances above $10 million increased, as did the percentages for balances between $5 million and $10 million, $3 million and $5 million, $2 million and $3 million, and $1 million and $2 million.

What is the average SMSF balance?

There are a few different figures to consider with SMSFs.

SMSFs can have multiple members, so the average balance of an SMSF is not necessarily the average member balance.

According to Class, the average assets per SMSF as at 30 June 2026 came to $1.88 million. Average assets per SMSF member were $1.01 million.

I think it’d also be interesting to see what the average balance is for each member in a multi-member fund.

SMSFs with more members continue to show wide balance differences between members, according to Class. In four-member funds, the member with the highest balance averaged $1.94 million in FY26. That compares to $1.18 million, $380,234 and $242,642 for the members with the second, third and fourth balances, respectively.

Class suggested the differences may reflect the different life stages within four-member SMSFs. The two lower-balance members were much younger on average, at 47.1 years and 47.2 years, while the two higher-balance members were 63.6 and 60.3 years on average.

Given how long retirees may need their assets to last and the potential future costs of healthcare and aged care, it makes sense that SMSF members want to build very sizeable balances.

The post Here’s the average Australian superannuation balance in SMSFs appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Myer. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you are in the market for some new additions to your ASX share portfolio, then read on!

That’s because the team at Morgans has put buy ratings on three shares this week. Here’s what it is recommending:

Cogstate Ltd (ASX: CGS)

This healthcare technology company has been given a buy rating and $4.07 price target this week by Morgans. Based on its current share price of $3.37, this implies potential upside of approximately 20%.

Commenting on its recommendation, Morgans said:

CGS is a high-quality, science-led provider of digital cognitive assessment and endpoint data quality services to the clinical trials industry. Following a record FY26, CGS enters FY27 with record contracted future revenue of US$118.5m (+32% pcp), a diversifying pipeline, and a two-year technology program designed to expand margins as volumes grow without a corresponding increase in headcount. It is debt-free with US$34.7m in cash, generates high incremental margins on a largely fixed cost base, and returns capital through dividends while retaining capacity to reinvest. 

The share price has re-rated strongly as the market has recognised the improving quality and predictability of earnings. The key question is whether CGS can sustain continued contract growth while converting scale into improved margins, an outcome we see as achievable. We initiate coverage with a BUY rating and A$4.07 target price.

Nufarm Ltd (ASX: NUF)

Another ASX share that has been given the thumbs up from Morgans is agricultural chemicals company Nufarm. 

The broker has put a buy rating and $4.24 price target on its shares. This suggests that upside of around 40% is possible from current levels.

Morgans believes that Nufarm shares are materially undervalued compared to peers. It explains:

If it wasn’t for two unplanned manufacturing disruptions, in our view, NUF would have beaten consensus expectations given Seed Technologies earnings have once again been upgraded due to higher Omega-3 prices. Importantly, NUF is still guiding towards strong earnings growth in FY26 and is on track to materially deleverage, with further improvement targeted in FY27. Given NUF’s operating and financial leverage and high tax rate in FY26, a minor EBITDA revision results in a large downgrade to EPS. 

With further operational improvements targeted, another A$50m cost out program and more Omega-3 oil to sell at high prices, we have left our FY27/28 EBITDA forecasts unchanged, while EPS in these years increases given lower D&A post plant closures. While a revision before an Investor Day next week is unfortunate, the turnaround plans at NUF remain on track and the stock is materially undervalued compared to peers. We reiterate our BUY rating with a new price target of A$4.24.

Ramelius Resources Ltd (ASX: RMS)

Finally, this gold miner has been given a buy rating and $5.02 price target from Morgans this week.

Based on its current share price of $3.87, this implies potential upside of approximately 30% over the next 12 months.

Morgans was pleased with its four-year growth outlook, highlighting that it is on a pathway to becoming a 600,000 ounces per annum producer by FY 2030. It said:

RMS has released its FY27 guidance and four-year outlook, outlining a clear pathway to ~600kozpa by FY30, driven by the expansion of the Mt Magnet processing hub and a growing contribution from higher-grade underground ore sources. The outlook reinforces our view that RMS is developing one of the highest quality growth profiles in the Australian gold sector. 

FY27 guidance of 205-225koz at an AISC of A$2,150-2,350/oz was broadly in line with expectations, while the medium-term outlook delivered meaningful production upgrades from FY29 onward as higher-grade material from Dalgaranga, Cue and Galaxy displaced lower-grade feed in the mine plan. We maintain our BUY rating and raise our price target to A$5.02ps.

The post 3 ASX shares given buy ratings this week offering 20% to 40% upside appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cogstate. The Motley Fool Australia has positions in and has recommended Cogstate. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Pro Medicus Ltd (ASX: PME) and CSL Ltd (ASX: CSL) shares are among the most heavily traded S&P/ASX 200 Index (ASX: XJO) healthcare shares.

But they’ve delivered some very disparate returns over the past three years.

One of the ASX healthcare juggernauts has smashed the 22.4% returns delivered by the ASX 200 since 22 September 2023, while the other materially trails that performance.

So, if you’d bought $10,000 worth of Pro Medicus and CSL shares three years ago, how much would you have now?

I’m glad you asked!

Tipping $10,000 into CSL shares

On 22 September, shares in the ASX 200 biotech giant closed the day trading for $252.15 each.

Meaning for $10,000 you could have bought 39 CSL shares, with enough change left over to take your partner out to dinner. For the next 10 or so months, you would have watched those shares march higher.

But by August 2024, the ASX 200 healthcare share came under sustained selling pressure.

On Thursday, CSL shares were swapping hands for $179.09 apiece. Meaning those 39 shares you bought three years ago for $10,000 would be worth $6,985 today.

Now, we shouldn’t entirely discount the CSL dividends.

If you owned the stock for the past three years you would have received (or shortly will) the past six unfranked dividend payments, totalling $12.55 a share. CSL stock traded ex-dividend on 9 September. If you owned shares at market close on 8 September, you can expect to receive the final FY 2026 dividend of $2.244 a share on 2 October.

So, if we add that $12.55 of passive income back into the recent share price, then the accumulated value of the CSL shares you bought three years ago is now worth $191.64. And the 39 shares you invested $10,000 into are worth $7,474.

Which brings us to…

Buying Pro Medicus shares in September 2023

Three years ago, shares in the ASX 200 health imaging company closed the day trading for $71.67 apiece.

Meaning your $10,000 investment would have netted you 139 shares, with enough change for popcorn and a movie.

On Thursday, Pro Medicus shares were changing hands for $159.52 each. So those 139 shares are worth $22,173 today.

And, as with CSL shares, you’d also have received (or shortly will) the last six fully franked Pro Medicus dividend payments, totalling $1.64 a share. Pro Medicus stock traded ex-dividend on 7 September. If you owned shares on 4 September, you can expect that record high 37 cent per share final dividend to land in your bank account on 29 September.

Now, if we add that passive income back into the recent share price, then the accumulated value of the 139 Pro Medicus shares you bought three years ago for $10,000 is now worth $22,401.

Which sees Pro Medicus clearly top CSL shares as the better investment over the past three years.

The post $10,000 invested in Pro Medicus and CSL shares 3 years ago is now worth… appeared first on The Motley Fool Australia.

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• Here are the most popular ASX share superannuation investments in SMSFs

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended CSL and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.