The latest edition of Super Trends, released today by the Australian Prudential Regulation Authority (APRA), has shown a 3.2 per cent increase in total superannuation assets in Australia for the September quarter 2003.  Total assets now stand at $548.5 billion.

All fund types recorded an increase in assets over the quarter, with small funds again experiencing the highest growth with an increase of 7.9 per cent. Small funds are defined as having fewer than five members and their total assets now stand at $117.9 billion. Industry funds grew by 5.3 percent; public sector funds by 3.9 percent; retail funds by 3.4 percent; and corporate funds by 2.7 per cent.

In the investment classes, assets in equities and unit trusts showed the largest increase, with growth of 5.5 per cent over the quarter. Loans and placements increased by 5.3 per cent and overseas assets by 3.6 per cent

Contributions received totalled $14.7 billion, with contributions from employers of $9.1 billion and members of $5.6 billion.  This was a decrease of 12.9 per cent for the quarter, the normal seasonal pattern; over the year to September, contributions rose by 9.0 per cent. Benefit payments increased by 4.9 per cent over the September quarter.

Superannuation Trends is a quarterly publication based on APRA’s Quarterly Survey of Superannuation and estimates of other industry components. The survey is a joint initiative of APRA and the Australian Bureau of Statistics (ABS) and currently reviews information sourced from 361 superannuation funds in Australia.  These funds are the largest in the industry, the cut-off point for inclusion being more than $60 million in assets under management.

A copy of the latest edition of Super Trends is available on APRA’s website: http://www.apra.gov.au/Statistics/Superannuation-Institutions-Statistics.cfm

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry. APRA is funded largely by the industries that it supervises. It was established on 1 July 1998. APRA currently supervises institutions holding approximately $1.7 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.

Media and industry inquiries only:	Sue Morey Head of Public Affairs Australian Prudential Regulation Authority Telephone: 02 9210 3384 Mobile: 0438 124 524
All other inquiries:	APRA Contact Centre 1300 131 060