The Australian Prudential Regulation Authority (APRA) today released its March 2013 Quarterly Superannuation Performance publication.
Over the 12 months to 31 March 2013, total estimated superannuation assets, which include the assets of self-managed superannuation funds and the balance of life office statutory funds, rose by $187.8 billion (13.5 per cent) to $1.58 trillion. This included an increase of $68.4 billion (4.5 per cent) in total assets over the March 2013 quarter.
Over this quarter, the total estimated assets of industry funds increased by 5.7 per cent ($16.7 billion) to $311.4 billion, corporate funds by 4.3 per cent ($2.5 billion) to $60.3 billion, public sector funds by 4.3 per cent ($10.3 billion) to $247.2 billion and retail funds by 4.2 per cent ($16.9 billion) to $415.0 billion.
Contributions to funds with at least $50 million in assets were $20.8 billion over the March quarter, with employers contributing $16.9 billion and members contributing $3.8 billion. Other contributions, including spouse contributions and government co-contributions, totalled $132 million.
During the quarter, industry funds received 33.1 per cent ($6.9 billion) of total contributions, public sector funds 32.7 per cent ($6.8 billion), retail funds 30.4 per cent ($6.3 billion) and corporate funds 3.8 per cent (.8 billion).
Outward rollovers exceeded inward rollovers in the March quarter. Industry, retail, corporate and public sector funds had negative net rollovers of $50 million, $131 million, $432 million and $818 million, respectively.
For superannuation funds with more than $50m in assets as a whole (quarterly reporting funds), their annual rate of return (ROR) for the year ending 31 March 2013 was 10.2 per cent, while their ROR for the March 2013 quarter was 4.1 per cent. The RORs for the March quarter for each fund type as a whole were 4.1 per cent for industry funds, public sector funds and retails funds, and 4.0 per cent for corporate funds.
Copies of the publication are available on APRA’s website.