The Australian Prudential Regulation Authority (APRA) today released the March 2005 edition of the Quarterly Superannuation Performance publication.

Total superannuation assets rose during the March 2005 quarter by 2.4 per cent to $710.0 billion. Industry funds showed the strongest growth during the quarter, with assets increasing by 4.1 per cent ($4.1 billion) to $104.3 billion. Retail fund assets grew by 2.0 per cent ($4.6 billion) to $235.0 billion. Public sector fund assets grew by 2.4 per cent ($2.9 billion) to stand at $122.7 billion, while corporate fund assets remained relatively stable across the March quarter.

Contributions to funds with at least $50 million in assets over the same period were $11.8 billion, with employers contributing $8.3 billion and members contributing $3.2 billion. Other contributions, including spouse contributions and Government co-contributions, totalled $0.3 billion. Retail funds received 41.5 per cent ($4.9 billion) of total contributions over the quarter. Industry funds received $3.1 billion (26.7 per cent), public sector funds received $2.8 billion (23.7 per cent) and corporate funds $1.0 billon (8.3 per cent).

At the end of March 2005, 30.9 per cent of superannuation assets ($158.0 billion) were invested in wholesale trusts and 25.3 per cent ($129.2 billion) was invested in life insurance companies. Individually managed mandates comprised 22.5 per cent of superannuation assets ($115.1 billion).

The return on assets was 1.2 per cent for the March quarter. The return for public sector funds was 1.9 per cent, industry funds 1.5 per cent, corporate funds 1.4 per cent and retail funds 0.7 per cent.

Copies of the publications are available on APRA’s web site at: 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 $2.0 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.