5655.0 - Managed Funds, Australia, December 2011
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 23/02/2012
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ANALYSIS MANAGED FUNDS INSTITUTIONS Consolidated assets of managed funds institutions As at 31 December 2011 the consolidated assets of managed funds institutions was $1,410.6b, an increase of $9.1b (1%) on the September quarter 2011 figure of $1,401.5b. Consolidated assets by types of asset The asset types to increase during the quarter were shares, $4.1b (1%); land, buildings and equipment, $2.4b (1%); overseas assets, $2.3b (1%); deposits, $1.8b (1%); and derivatives, $0.03b (2%). These were partially offset by decreases in; bonds, etc., $1.2b (2%); and other non-financial assets, $0.8b (4%). Short term securities; loans and placements; units in trusts; and other financial assets were flat. The following chart shows the level at 31 December 2011 of the asset types of managed funds institutions. UNCONSOLIDATED ASSETS Life insurance corporations At 31 December 2011, total unconsolidated assets of life insurance corporations were $227.6b, a decrease of $0.4b (0%) on the September quarter 2011 figure of $227.9b. The major decreases were in Short term securities, $1.0b (12%), unlisted shares, $0.9b (12%), assets overseas, $0.7b (5%) and listed shares, $0.2b (2%). These were partially offset by increases in units in trusts, $1.6b (1%); bonds, $0.5b (3%) and other financial assets, $0.2b (6%). Cross investment within life insurance corporations was $2.0b, a decrease $0.6b (22%) over the previous quarter. Net policy liabilities increased $1.8b (1%) to $196.4b; while and other liabilities decreased by $1.1b (13%) and share capital and reserves decreased by $1.0b (5%). Superannuation (pension) funds At 31 December 2011, total unconsolidated assets of superannuation funds were $1,257.6b, an increase of $15.9b (1%) on the September quarter 2011 figure of $1,241.7b. The increases were in shares, $5.7b (2%); assets overseas, $5.1b (3%); deposits, $3.1b (2%); units in trusts, $2.5b (2%); land, buildings and equipment, $1.5b (2%) and net equity of pension funds in life office reserves, $1.3b (1%). These were partially offset by decreases in other financial assets, $1.7b (8%); bonds, $1.5b (3%); derivatives, $0.2b (2%) and short term securities, $0.2b (0%). Public offer (retail) unit trusts As at 31 December 2011, total unconsolidated assets of public offer (retail) unit trusts were $263.3b, a decrease of $9.1b (3%) on the September quarter 2011 of $272.3b. The largest decreases were in units in trusts, $6.7b (10%); assets overseas, $2.1b (6%) and shares, $1.1b (4%). These were partially offset by an increase in other financial assets, $1.1b (13%). Cross investment within public offer (retail) unit trusts was $28.1b, down $5.1b (15%) on the previous quarter. Investor funds decreased $8.7b (4%) to $201.2b; loans and placements decreased $1.3b (4%) to $31.8b; while debt securities issued increased $1.0b (15%) to $7.9b. Friendly societies At 31 December 2011, total unconsolidated assets of friendly societies were $6.1b, a decrease of $0.05b (1%) on the previous quarter. Common funds At 31 December 2011, total unconsolidated assets of common funds were $8.0b, down $0.1b (1%) on the previous quarter. Cash management trusts At 31 December 2011, the total unconsolidated assets of cash management trusts were $23.7b, an increase of $0.4b (2%) on the September quarter 2011 figure of $23.3b. The major increases were bank certificates of deposit, $2.3b (24%); and bills of exchange accepted by banks, $0.3b (24%). These were partially offset by decreases in deposits accepted by banks, $1.5b (30%); and commercial paper issued by other financial corporations, $0.7b (32%). Cross investment within cash management trusts was $1.4b at 31 December 2011, up $0.1b (6%) on the previous quarter. Investor funds increased $0.4b (2%) to $23.7b. RESIDENT INVESTMENT MANAGERS Source of funds under management At 31 December 2011 total funds under management was $1,188.2b, a decrease of $4.4b (0%) on the September quarter 2011 figure of $1,192.6b. At 31 December 2011, the value of funds under management on behalf of managed funds institutions was $809.6b, an increase of $0.5b (0%) on the September quarter 2011 figure of $809.2b. An increase was recorded in the value of superannuation funds, $3.7b (1%). These were partially offset by decreases in funds under management on behalf of public offer (retail) unit trusts, $2.1b (2%) and life insurance corporations, $1.1b (1%). At 31 December 2011, the value of funds under management on behalf of sources other than managed funds was $317.4b, a decrease of $3.4b (1%) on the September quarter 2011 figure of $320.8b. Decreases were recorded in funds under management on behalf of wholesale financial trusts, $4.0b (3%); national government, $1.9b (4%); other investment managers, $0.4b (5%); non-government trading corporations, $0.3b (1%); other sources, $0.2b (1%); and government compensation schemes $0.1 (2%). These were partially offset by an increase in funds under management on behalf of general insurance, $3.1b (9%); and state and local government, $0.3b (1%). The value of funds under management on behalf of overseas sources at 31 December 2011 was $61.2b, a decrease of $1.4b (2%) on the September quarter 2011 figure of $62.6b.
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