The Australian Prudential Regulation Authority (APRA) today released the first edition of two new publications - the Annual Superannuation Bulletin and Quarterly Superannuation Performance.

The publications provide, for the first time, data on the age segmentation of superannuation fund members, the investment choice offered by funds and the asset allocation of default investment options.

Total superannuation assets rose during the December 2004 quarter by 7.2 per cent to $693.0 billion. The most rapid growth was among industry and retail funds, which grew by 9.3 per cent and 7.8 per cent, respectively. These funds received the majority of contributions and rollovers net of benefits.

Contributions totalled $13.1 billion for the December quarter, with employers contributing $7.8 billion and members contributing $4.2 billion. Benefit payments were $5.0 billion for the quarter and net rollovers totalled $859 million.

The return on assets (ROA) was 5.4 per cent for the December quarter. The return for public sector funds was 6.0 per cent, corporate funds 5.8 per cent, industry funds 5.6 per cent and retail funds 4.8 per cent. For the year to June 2004, the ROA for all superannuation entities was 11.3 per cent. Industry funds had the highest ROA at 12.5 per cent, followed by public sector funds at 12.4 per cent, corporate funds at 12.2 per cent and retail funds at 10.0 per cent.

APRA Chairman Dr John Laker said that both publications follow extensive industry consultation and provide a broader and more detailed overview of Australia’s superannuation industry.

“The expanded data will enhance market transparency and facilitate more informed decision-making by enabling trustees, superannuation fund members and APRA to monitor trends and performance in the superannuation industry,” he said.

Copies of the publications are available on APRA’s web site at http://www.apra.gov.au/Statistics/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=8604 and http://www.apra.gov.au/Statistics/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=8608 

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 $2.0 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.