The Australian Prudential Regulation Authority (APRA) today released the June 2006 edition of the Quarterly Superannuation Performance publication. Total superannuation assets rose during the June 2006 quarter by 1.3 per cent to $913.9 billion, which represents a 19.8 per cent increase over the 12 months to June 2006.

Industry funds showed the strongest growth during the quarter, with assets increasing by 3.1 per cent ($4.6 billion) to $154.6 billion. Retail fund assets grew by 1.9 per cent ($5.6 billion) to $294.6 billion. Public sector fund assets grew by 0.7 per cent ($1.1 billion) to $152.3 billion, while corporate fund assets decreased by 7.6 per cent ($4.5 billion) to $54.3 billion during the June quarter.

Contributions to funds with at least $50 million in assets over the June quarter were $21.4 billion, with employers contributing $13.7 billion (63.7 per cent) and members contributing $7.5 billion. Other contributions, including spouse contributions and government co-contributions, totalled $242 million. Retail funds received 46.7 per cent ($10.0 billion) of total contributions over the quarter, while industry funds received 25.3 per cent ($5.4 billion), public sector funds received 23.8 per cent ($5.1 billion) and corporate funds 4.2 per cent ($903 million).

At the end of June 2006, funds with at least $50 million in assets had 30.4 per cent of superannuation assets ($196.9 billion) invested in wholesale trusts and 23.3 per cent ($151.4 billion) invested in life insurance companies. Individually managed mandates comprised 20.1 per cent ($130.5 billion) of superannuation assets.

The combined return on assets was -0.6 per cent for the June quarter. The return for industry funds was -0.2 per cent, public sector funds -0.6 per cent, retail funds -0.8 per cent and corporate funds was -1.0 per cent. Given the drop in the prices of listed securities during the quarter relative to previous quarter increases, this was to be expected.

Copies of the publication are available on APRA's web site.

Note: 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 $2.5 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