5655.0 - Managed Funds, Australia, Sep 2012  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 29/11/2012   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 September 2012, the managed funds industry had $1,954.7b funds under management, an increase of $68.3b (4%) on the June quarter 2012 figure of $1,886.3b. Increases were recorded in the consolidated assets of managed funds institutions, $52.6b (4%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $9.1b (3%); and funds managed by Australian investment managers on behalf of overseas investors, $6.7b (10%).

The following diagram shows the values of the Total Managed Funds Industry at 30 September 2012 and the relationships between the components of the industry:

Diagram: Managed funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 September 2012, the consolidated assets of managed funds institutions were $1,551.6b, an increase of $52.6b (4%) on the June quarter 2012 figure of $1,499.0b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types to increase during the quarter were shares, $21.3b (5%); overseas assets, $14.9b (6%); deposits, $11.4b (5%); units in trusts, $4.9b (3%); bonds, etc., $3.7b (5%); and short term securities, $2.5b (3%). These were partially offset by decreases in other financial assets, $3.0b (7%); other non-financial assets, $1.3b (9%); land, buildings and equipment, $1.1b (1%); derivatives, $0.4b (21%); and loans and placements, $0.3b (1%).

The following chart shows the levels of the asset types of managed funds institutions at 30 September 2012.

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 September 2012, total unconsolidated assets of life insurance corporations were $243.6b, an increase of $8.3b (4%) on the June quarter 2012 figure of $235.2b.

Increases were recorded in units in trusts, $5.1b (3%); deposits, $1.0b (8%); shares, $0.9b (5%); assets overseas, $0.9b (6%); bonds, etc., $0.7b (4%); short term securities, $0.2b (2%); and other financial assets, $0.1b (3%).

These were partially offset by decreases in loans and placements, $0.3b (10%); other non-financial assets, $0.2b (7%); and derivatives, $0.1b (12%).

Land, buildings and equipment was flat compared to the previous quarter.

Cross investment within life insurance corporations was $1.9b, which was flat compared to the previous quarter.

Net policy liabilities was $207.2b, an increase of $5.9b (3%) on the previous quarter.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 30 September 2012, total unconsolidated assets of superannuation funds were $1,409.9b, an increase of $59.9b (4%) on the June quarter 2012 figure of $1,350.1b.

Increases were recorded in shares, $20.1b (5%); assets overseas, $15.6b (8%); deposits, $10.9b (5%); units in trusts, $5.4b (3%); net equity of pension funds in life office reserves, $4.9b (3%); bonds, etc., $3.1b (6%); short-term securities, $2.1b (3%); land, buildings and equipment, $1.4b (2%); and loans and placements, $0.3b (3%).

These were partially offset by decreases in other financial assets, $3.5b (15%); and derivatives, $0.6b (4%).

Other non-financial assets was flat.

Superannuation (Pension) funds
Graph: Superannuation (Pension) funds



Public offer (retail) unit trusts

At 30 September 2012, total unconsolidated assets of public offer (retail) unit trusts were $255.9b, a decrease of $3.5b (1%) on the June quarter 2012 figure of $259.4b.

Decreases were recorded in land, buildings and equipment, $2.6b (3%); assets overseas, $1.5b (5%); deposits, $0.4b (8%); derivatives, $0.3b (25%); loans and placements, $0.3b (2%); and bonds, etc., $0.1b (3%).

These were partially offset by increases in units in trusts, $1.3b (2%); shares, $0.4b (1%); and short-term securities, $0.2b (7%). Other financial assets and other non-financial assets were flat.

Cross investment within public offer (retail) unit trusts was $26.7b, an increase of $0.1b (0%) compared to the previous quarter.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 30 September 2012, total unconsolidated assets of friendly societies were $6.0b, an increase of $0.1b (2%) on the June quarter 2012 figure of $5.8b.

Friendly societies
Graph: Friendly societies



Common funds

At 30 September 2012, total unconsolidated assets of common funds were $7.7b, an increase of $0.2b (2%) on the June quarter 2012 figure of $7.5b.

Common funds
Graph: Common funds



Cash management trusts

At 30 September 2012, total unconsolidated assets of cash management trusts were $24.5b. This was flat compared to the previous quarter.

Increases were recorded in units in trusts, $0.1b (7%); and bonds, etc., $0.1b (5%). These were offset by a decrease in deposits, $0.1b (1%). Short term securities and other financial assets were flat compared to the previous quarter.

Cross investment within cash management trusts was $1.4b, an increase of $0.1b (7%) on the previous quarter.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 September 2012, total funds under management were $1,270.4b, an increase of $42.0b (3%) on the June quarter 2012 figure of $1,228.4b.

At 30 September 2012, the value of funds under management on behalf of managed funds institutions was $858.9b, an increase of $26.2b (3%) on the June quarter 2012 figure of $832.7b. Increases were recorded in superannuation funds, $23.9b (4%); public offer (retail) unit trusts, $1.9b (2%); and cash management trusts, $0.4b (3%). A decrease was recorded in common funds, $0.1b (2%). Life insurance corporations and friendly societies were flat.

At 30 September 2012, the value of funds under management on behalf of sources other than managed funds was $336.6b, an increase of $9.1b (3%) on the June quarter 2012 figure of $327.4b. Increases were recorded in funds under management on behalf of wholesale financial trusts, $2.5b (2%); state and local government, $2.4b (5%); government compensation schemes, $1.5b (17%); non-government trading corporations, $1.0b (5%); national government, $0.9b (2%); general insurance, $0.4b (1%); other sources, $0.2b (1%); charities, $0.1b (7%); and other investment managers, $0.1b (1%).

The value of funds under management on behalf of overseas sources at 30 September 2012 was $75.0b, an increase of $6.7b (10%) on the June quarter 2012 figure of $68.3b.

Assets of managed funds, at 30 September 2012

Assets invested through resident investment managers
Assets invested directly
Unconsolidated assets of managed funds
$m
$m
$m

Life insurance corporations
161 290
82 261
243 551
Superannuation funds
562 177
847 730
1 409 906
Public offer unit trusts
112 654
143 273
255 927
Friendly societies
1 127
4 846
5 973
Common funds
4 017
3 671
7 688
Cash management trusts
17 643
6 833
24 476
Total
858 908
1 088 614
1 947 522