Total superannuation assets in Australia reached $1.1 trillion during the March 2007 quarter 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 quarter by $44.7 billion, or 4.4 per cent, to $1.1 trillion, which represents a 17.1 per cent increase over the 12 months to March 2007.

Industry funds showed the strongest growth during the quarter, with assets increasing by 6.2 per cent ($10.6 billion) to $182.7 billion. Public sector fund assets grew by 5.1 per cent ($8.0 billion) to $165.8 billion, retail fund assets by 3.7 per cent ($12.4 billion) to $343.9 billion and corporate fund assets by 2.6 per cent ($1.7 billion) to $69.4 billion.

Contributions to funds with at least $50 million in assets were $20.7 billion over the March quarter, with employers contributing $13.2 billion (64.0 per cent) and members contributing $7.2 billion. Other contributions, including spouse contributions and government co-contributions, totalled $250 million. Retail funds received 42.9 per cent ($8.9 billion) of total contributions over the quarter, industry funds 24.9 per cent ($5.1 billion), public sector funds 28.1 per cent ($5.8 billion) and corporate funds 4.2 per cent ($862 million).

At the end of March 2007, funds with at least $50 million in assets had 30.6 per cent of superannuation assets ($230.7 billion) invested in wholesale trusts and 22.1 per cent ($166.4 billion) invested in life insurance companies. Individually managed mandates, where asset portfolios are tailored for or chosen by the trustee, comprised 20.8 per cent ($156.7 billion) of superannuation assets. The remaining assets were invested in other categories including pooled superannuation trusts, unlisted public offer unit trusts and directly invested assets.

The combined return on assets was 2.7 per cent for the March quarter. The return for public sector funds was 3.1 per cent, corporate funds 3.0 per cent, industry funds 2.9 per cent and retail funds 2.3 per cent.

Copies of the March 2007 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