Total superannuation assets in Australia have reached the $1.0 trillion mark, according to figures released today by the Australian Prudential Regulation Authority (APRA).

APRA’s Quarterly Superannuation Performance publication shows total superannuation assets rose during the December 2006 quarter by 6.9 per cent to $1.0 trillion, which represents a 19.2 per cent increase over the year.

Contributions to funds with at least $50 million in assets over the December quarter were $18.1 billion, with employers contributing $11.3 billion (62.5 per cent) and members $6.4 billion (35.3 per cent). Other contributions, including spouse contributions and government co-contributions, totalled $411 million. Retail funds received 45.8 per cent ($8.3 billion) of total contributions over the quarter, industry funds 26.1 per cent ($4.7 billion), public sector funds 23.0 per cent ($4.2 billion) and corporate funds 5.0 per cent ($914 million).

At the end of December 2006, funds with at least $50 million in assets had 30.5 per cent of superannuation assets ($220.4 billion) invested in wholesale trusts and 22.4 per cent ($161.7 billion) invested in life insurance companies. Individually managed mandates, with asset portfolios tailored for or chosen by the trustee, comprised 21.0 per cent ($151.4 billion) of superannuation assets. The remaining assets were invested in other items including pooled superannuation trusts, unlisted public offer unit trusts and directly invested assets.

The combined return on assets was 5.3 per cent for the December quarter. The return for corporate funds was 5.9 per cent, retail funds 5.4 per cent, industry funds 5.1 per cent and public sector funds 5.0 per cent.

Copies of the December 2006 Quarterly Superannuation Performance publication are available on APRA's website at 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 $2.5 trillion in assets for 20 million Australian depositors, policyholders and superannuation fund members.

Media and industry inquiries only:
Andrew McCutcheon, Public Affairs Manager
Australian Prudential Regulation Authority
Telephone: 02 9210 3143
Mobile: 0417 528 660

All other inquiries:
APRA Contact Centre 1300 131 060