The Australian Prudential Regulation Authority (APRA) today released the March 2006 edition of the Quarterly Superannuation Performance publication.

Total superannuation assets rose during the March 2006 quarter by 6.6 per cent, to $905.4 billion. Industry funds showed the strongest growth, with assets increasing by 9.0 per cent ($12.4 billion) to $149.6 billion over the quarter.  Public sector fund assets grew by 6.6 per cent ($9.4 billion) to stand at $151.3 billion. Retail fund assets grew by 6.5 per cent ($17.6 billion) to $289.2 billion while corporate fund assets grew by 5.3 per cent ($2.9 billion) to $58.8 billion.

Contributions to funds with at least $50 million in assets were $14.9 billion over the March quarter, with employers contributing $9.9 billion and members contributing $4.5 billion. Other contributions, including spouse contributions and government co-contributions, totalled $402 million. Retail funds received 42.7 per cent ($6.3 billion) of total contributions over the quarter. Industry funds received 28.4 per cent ($4.2 billion), public sector funds 23.4 per cent ($3.5 billion) and corporate funds 5.5 per cent ($822 million). 

At the end of March 2006, funds with at least $50 million in assets had 30.3 per cent of superannuation assets ($194.1 billion) invested in wholesale trusts and 23.6 per cent ($151.1 billion) invested in life insurance companies. Individually managed mandates comprised 20.3 per cent ($130.2 billion) of superannuation assets.

The return on assets was 5.3 per cent for the March quarter. The return for corporate funds was 5.9 per cent, public sector funds 5.8 per cent, industry funds 5.3 per cent and retail funds 4.9 per cent.

Copies of the publication are available on APRA's website at http://www.apra.gov.au/Statistics/Quarterly-Superannuation-Performance.cfm

Background

Individually managed mandates comprise asset portfolios tailored for or chosen by the trustee.

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 $2.2 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.

Media and industry inquiries only:
Stuart Snell, Head of Public Affairs
Australian Prudential Regulation Authority
Telephone: 02 9210 3384
Mobile: 0407 250 276

All other inquiries:
APRA Contact Centre
1300 131 060