The Australian Prudential Regulation Authority (APRA) today released its Quarterly Superannuation Performance publication for the March quarter of 2008. It shows total assets over the 12 months to 31 March 2008 rose by $37.4 billion (3.5 per cent) to a total of $1.10 trillion, despite a fall of $74.9 billion (6.4 per cent) during the March quarter.

Over the March quarter, industry funds' assets fell by 4.8 per cent ($9.9 billion) to $197.5 billion. Public sector funds’ assets fell by 6.2 per cent ($11.3 billion) to $170.2 billion, retail funds' assets fell by 7.9 per cent ($29.5 billion) to $343.8 billion and corporate funds’ assets fell by 8.8 per cent ($6.2 billion) to $64.0 billion.

Contributions to funds with at least $50 million in assets over the March quarter were $18.3 billion, with employers contributing $13.7 billion and members contributing $4.4 billion. Other contributions, including spouse contributions and government co-contributions, totalled $231 million.

Retail funds received 38.9 per cent ($7.1 billion) of total contributions during the March quarter, while industry funds received 29.2 per cent ($5.3 billion), public sector funds 27.2 per cent ($5.0 billion) and corporate funds 4.7 per cent ($868 million).

 The combined return on assets was —7.7 per cent for the March 2008 quarter. The return for industry and public sector funds was —6.6 per cent, corporate funds —7.6 per cent and retail funds —8.8 per cent.

APRA's Celebrating Ten Years of Superannuation Data Collection showed that total superannuation assets in Australia over the 10-year period 1997-2006 grew at an annual average annual growth rate of 14.3 per cent, and almost quadrupled from $245.3 billion in June 1996 to $912.0 billion in June 2006. The 2007 edition of APRA’s Annual Superannuation Bulletin showed that total superannuation assets rose in the 12 months to June 2007 by $225.4 billion, or 24.6 per cent, to $1.14 trillion.

Copies of the March 2008 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 $3 trillion in assets for 21 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 3384  

Mobile: 0417 528 660

All other inquiries:
APRA Contact Centre 1300 131 060.