The Australian Prudential Regulation Authority (APRA) today released its December 2007 Quarterly Superannuation Performance publication. It shows total assets over the 12 months to 31 December 2007 rose to a total of $1.18 trillion, despite a fall of $4.3 billion during the December quarter.

Superannuation assets rose by 15.4 per cent over the 12-month period, but fell by 0.4 per cent for the last three months of the year.

The publication shows that over the December quarter industry funds’ assets grew by 1.4 per cent ($2.9 billion) to $207.4 billion, and public sector funds’ assets increased by 0.2 per cent ($0.3 billion) to $181.5 billion. Retail funds’ assets fell by 1.3 per cent ($4.8 billion) to $373.3 billion, while corporate funds’ assets fell by 1.6 per cent ($1.2 billion) to $70.2 billion over the period.

Contributions to funds with at least $50 million in assets over the December quarter were $20.8 billion, with employers contributing $13.7 billion and members contributing $6.6 billion. Other contributions, including spouse contributions and government co-contributions, totalled $528 million.

Retail funds received 41.6 per cent ($8.7 billion) of total contributions during the December quarter, while industry funds received 28.7 per cent ($6.0 billion), public sector funds received 25.2 per cent ($5.2 billion) and corporate funds 4.4 per cent ($924 million).

The combined return on assets was —1.0 per cent for the December 2007 quarter. The return for industry funds was —0.2 per cent, public sector funds —0.3 per cent, corporate funds —0.5 per cent and retail funds —1.8 per cent.

Copies of the December 2007 Quarterly Superannuation Performance are available on APRA’s website at http://www.apra.gov.au/Statistics/Quarterly-Superannuation-Performance.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 $3 trillion in assets for 21 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.