5655.0 - Managed Funds, Australia, March 2011
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 26/05/2011
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ANALYSIS MANAGED FUNDS INSTITUTIONS Consolidated assets of managed funds institutions As at 31 March 2011 the consolidated assets of managed funds institutions was $1,452.5b, an increase of $32.2b (2%) on the December quarter 2010 figure of $1,420.3b. Consolidated assets by types of asset The asset types to increase during the quarter were shares, $23.5b (6%); assets overseas, $9.3b (4%); deposits, $4.3b (2%); bonds, etc, $1.9b (2%); other financial assets, $1.1b (3%); units in trusts, $1.0b (1%); derivatives, $0.1b (5%) and land, buildings and equipment, $0.1b (0.1%). These were partially offset by decreases in short term securities, $4.8b (6%); loans and placements, $4.0b (10%) and other non-financial assets, $0.3b (2%). The following chart shows the level at 31 March 2011 of the asset types of Managed Funds Institutions. UNCONSOLIDATED ASSETS Life insurance corporations At 31 March 2011, total unconsolidated assets of life insurance corporations were $239.4b, an increase of $6.7b (3%) on the December quarter 2010 figure of $232.7b. The major increases were in unlisted shares, $6.4b (184%) and bonds etc, $0.7b (4%). These were partially offset by a decrease in units in unlisted trusts, $1.7b (1%). Cross investment within life insurance corporations was $2.6b, up $1.6b (163%) over the previous quarter. Net policy liabilities decreased by $1.2b (1%) to $205.5b; loans and placements increased by $1.9b (205%); debt securities issued increased by $0.8b (52%) and other liabilities increased by $0.4b (7%). Superannuation (pension) funds At 31 March 2011, total unconsolidated assets of superannuation (pension) funds were $1,314.5b, an increase of $40.7b (3%) on the December quarter 2010 figure of $1,273.8b. The major increases were in holdings of shares, $17.1b (5%); units in trusts, $10.3b (6%); assets overseas, $8.9b (5%); deposits, $4.9b (3%); land, buildings and equipment, $1.9b (2%); and derivatives $1.5b (11%). These were offset by decreases in short term securities, $3.2b (6%) and in net equity in life office reserves, $1.3b (1%). Members funds and reserves increased by $38.7b (3%) to $1,296.6b. Public offer (retail) unit trusts At 31 March 2011, total unconsolidated assets of public offer (retail) unit trusts were $283.3b, a decrease of $4.3b (2%) on the December quarter 2010 figure of $287.7b. The largest decreases were in loans and placements, $3.3b (14%); land, buildings and equipment, $1.8b (2%); other financial assets, $0.8b (12%); and overseas assets, $0.5b (1%). These were offset by increases in holdings in shares, $1.4b (4%) and units in trusts, $0.5b (1%). Cross investment within public unit trusts was $35.1b, which increased $0.7b (2%), from the December quarter 2010 figure of $34.4b. Investor funds decreased $2.1b (1%); loans and placements liabilities decreased $0.3b (1%); debt securities issued increased $0.7b (7%) and other liabilities decreased $2.6b (11%). Friendly societies At 31 March 2011, total unconsolidated assets of friendly societies were $6.4b, virtually unchanged from the previous quarter. Net policy liabilities remained virtually the same at $5.5b. Common funds At 31 March 2011, total unconsolidated assets of common funds were $7.2b, virtually unchanged from the previous quarter. Investor funds remained virtually the same at $7.2b. Cash management trusts At 31 March 2011, the total unconsolidated assets of cash management trusts were $24.7b, a decrease of $1.9b (7%) on the December quarter 2010 figure of $26.6b. The major decreases were in holdings of bank certificates of deposit, $0.7b (6%); commercial paper, $0.5b (14%) and deposits, $0.4b (7%). These were partially offset by an increase in bonds of $0.1b (11%). Cross investment within cash management trusts decreased $0.1b (7%) to $1.3b. Investor funds decreased by $1.9b (7.1%) to $24.6b. RESIDENT INVESTMENT MANAGERS Source of funds under management At 31 March 2011 total funds under management was $1,198.7b, an increase of $20.6b (2%) on the December quarter 2010 figure of $1,178.1b. The value of funds under management on behalf of superannuation funds increased $15.5b (3%); public offer (retail) unit trusts decreased $0.7b (1%); life insurance corporations decreased $0.6b (0.5%); and cash management trusts decreased $0.3b (2%). At 31 March 2011, the value of funds under management on behalf of Australian sources other than managed funds was $330.4b, an increase of $3.5b (1%) on the December quarter 2010 figure of $326.9b. The largest increases were in funds under management on behalf of wholesale financial trusts, $1.6b (1%); state and local government, $1.1b (3%); and non-government trading corporations, $0.4b (2%). These were partially offset by a decrease in funds under management on behalf of general insurance, $0.2b (1%) and the national government, $0.2b (0.3%). The value of funds under management on behalf of overseas sources at 31 March 2011 was $60.3b, an increase of $3.2b (6%) on the December quarter 2010 figure of $57.1b.
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