5655.0 - Managed Funds, Australia, Sep 2013  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/11/2013   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 September 2013, the managed funds industry had $2,216.2b funds under management, an increase of $85.0b (4%) on the June quarter 2013 figure of $2,131.2b. Increases were recorded in consolidated assets of managed funds institutions, $67.8b (4%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $14.6b (4%); and funds managed by Australian investment managers on behalf of overseas investors, $2.9b (4%).

The following diagram shows the values of the Total Managed Funds Industry at 30 September 2013 and the relationships between the components of the industry:

Diagram: Total Managed Funds Industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 September 2013, the consolidated assets of managed funds institutions were $1,767.8b, an increase of $67.8b (4%) on the June quarter 2013 figure of $1,699.9b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that increased were shares, $40.2b (8%); units in trusts, $8.5b (5%); deposits, $5.9b (2%); overseas assets, $5.9b (2%); short term securities, $5.6b (5%); bonds, etc., $4.2b (5%); land, buildings and equipment, $1.2b (1%); and loans and placements, $0.7b (2%).

These were partially offset by decreases in other financial assets, $3.5b (10%); derivatives, $0.4b (22%); and other non-financial assets, $0.4b (2%).

The following chart shows the levels of the asset types of managed funds institutions at 30 September 2013.

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 September 2013, total unconsolidated assets of life insurance corporations were $265.4b, an increase of $10.2b (4%) on the June quarter 2013 figure of $255.2b.

Increases were recorded in units in trusts, $8.3b (5%); shares, $1.3b (6%); other financial assets, $0.7b (15%); bonds, etc., $0.5b (2%); other non-financial assets, $0.5b (18%); loans and placements, $0.1b (6%); and derivatives, $0.1b (12%).

These were partially offset by decreases in short term securities, $0.6b (10%); assets overseas, $0.5b (3%); and deposits, $0.1b (1%). Land, buildings and equipment were flat.

Cross investment within life insurance corporations was $1.9b which was flat compared to the June quarter 2013.

Net policy liabilities was $227.1b, an increase of $8.6b (4%) compared to the June quarter 2013.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 30 September 2013, total unconsolidated assets of superannuation funds were $1,642.5b, an increase of $79.6b (5%) on the June quarter 2013 figure of $1,562.9b.

Increases were recorded in shares, $37.5b (9%); units in trusts, $17.0b (9%); short term securities, $6.7b (8%); deposits, $6.2b (3%); assets overseas, $5.7b (2%); net equity of pension funds in life office reserves, $4.9b (3%); bonds, etc., $3.5b (6%); land, buildings and equipment, $1.7b (2%); and loans and placements, $0.1b (1%).

These were partially offset by decreases in other financial assets, $2.9b (14%) and derivatives, $0.8b (14%). Other non-financial assets were flat.

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



Public offer (retail) unit trusts

At 30 September 2013, total unconsolidated assets of public offer (retail) unit trusts were $279.6b, an increase of $4.9b (2%) on the June quarter 2013 figure of $274.8b.

Increases were recorded in units in trusts, $4.2b (7%); shares, $1.4b (5%); assets overseas, $0.7b (2%); loans and placements, $0.6b (3%); and bonds, etc., $0.2b (3%).

These were partially offset by decreases in other financial assets, $0.8b (10%); derivatives, $0.5b (37%); land, buildings and equipment, $0.4b (0%); other non-financial assets, $0.4b (3%); and short term securities, $0.1b (3%). Deposits were flat.

Cross investment within public offer (retail) unit trusts was $31.2b, an increase of $2.8b (10%) compared to the June quarter 2013.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 30 September 2013, total unconsolidated assets of friendly societies were $6.1b, an increase of $0.2b (3%) on the June quarter 2013 figure of $6.0b.

Friendly societies
Graph: Friendly societies



Common funds

At 30 September 2013, total unconsolidated assets of common funds were $7.5b, a decrease of $0.2b (2%) on the June quarter 2013 figure of $7.7b.

Common funds
Graph: Common funds



Cash management trusts

At 30 September 2013, total unconsolidated assets of cash management trusts were $24.5b, a decrease of $1.2b (5%) on the June quarter 2013 figure of $25.8b.

Decreases were recorded in short term securities, $0.5b (4%); equities, $0.4b (49%); and deposits, $0.2b (3%). Bonds, etc., loans and placements, derivatives, non-financial assets, and other financial assets were flat.

Cross investment within cash management trusts was $0.5b, a decrease of $0.4b (49%) compared to the June quarter 2013.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 September 2013, total funds under management were $1,436.9b, an increase of $69.8b (5%) on the June quarter 2013 figure of $1,367.0b.

Funds under management on behalf of superannuation funds increased $49.6b (8%); public offer (retail) unit trusts increased $1.3b (1%); life insurance corporations increased $0.7b (0%); cash management trusts increased $0.5b (3%).

At 30 September 2013, the value of funds under management on behalf of sources other than managed funds was $383.2b, an increase of $14.6b (4%) on the June quarter 2013 figure of $368.6b.

Increases were recorded in funds under management of behalf of wholesale financial trusts, $4.8b (3%); other sources, $3.8b (15%); national government, $3.7b (7%); state and local government, $0.5b (1%); non-government trading corporations, $0.5b (2%); general insurance, $0.4b (1%); charities, $0.3b (16%); other investment managers, $0.3b (3%); and government compensation schemes, $0.1b (1%).

The value of funds under management on behalf of overseas sources at 30 September 2013 was $74.7b, an increase of $2.9b (4%) on the June quarter 2013 figure of $71.9b.

Assets of Managed Funds, at 30 September 2013

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

Life insurance corporations
162 996
102 449
265 445
Superannuation (pension) funds
678 982
963 478
1 642 460
Public offer (retail) unit trusts
114 794
164 816
279 610
Friendly societies
np
np
6 131
Common funds
np
np
7 508
Cash management trusts
16 800
7 741
24 541
Total
978 953
1 246 742
2 225 695

np not available for publication but included in totals where applicable, unless otherwise indicated