Ann: Class - 31 December 2018 Update, page-20

The SMSF sector has become over regulated. Legislative changes including reductions in contribution limits and member balance caps has stall growth.

The total market size is about 600k funds. The 3 largest specialist SMSF software platforms BGL (200k+)  ClassSuper (160k+) SuperMate (40k+) service about two thirds of market.

Growth going forward is going to be hard. Class could consider acquiring the SuperMate book from AMPs struggling administration business SuperConcepts