5655.0 - Managed Funds, Australia, Sep 2010
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2010
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ANALYSIS MANAGED FUNDS INSTITUTIONS Consolidated assets of managed funds institutions As at 30 September 2010 the consolidated assets of managed funds institutions was $1,357.4b, an increase of $33.3b (3%) on the June quarter figure of $1,324.1b. Consolidated assets by types of asset The major asset types to increase during the quarter were shares, $29.8b (8%); deposits, $8.3b (5%); overseas assets, $4.8b (2%); and land, buildings and equipment, $2.2b (1%). These were offset by decreases in short term securities, $13.1b (13%); bonds, etc, $3.6b (4%); other non-financial assets, $0.3b (1%); and derivatives, $0.1b (3%). The following chart shows the level at 30 September 2010 of the asset types of Managed Funds Institutions. UNCONSOLIDATED ASSETS Life insurance corporations At 30 September 2010, total unconsolidated assets of life insurance corporations were $230.6b, an increase of $7.2b (3%) on the June quarter figure of $223.3b. The major increases were in units in trusts, $6.1b (4%); shares, $1.6b (10%); assets overseas, $0.5b (5%) and loans and placements, $0.2b (6%). These were partially offset by decreases in short term securities, $0.9b (8%), bonds etc, $0.3b (1%), other non-financial assets, $0.3b (9%), and derivatives, $0.1b (20%). Cross investment within life insurance corporations was $1.0b, virtually the same as the previous quarter. Net policy liabilities increased by $5.8b (3%) to $203.9b; loans and placements decreased by $0.2b (12%); other liabilities increased by $1.0b (18%) and share capital and reserves increased $0.6b (4%). Superannuation (pension) funds At 30 September 2010, total unconsolidated assets of superannuation funds were $1,250.9b, and increase of $58.1b (5%) on the June quarter figure of $1,192.7b. The major increases were in holdings of shares, $27.9b (9%), units in trusts, $13.9b (9%), deposits, $9.1b (6%), assets overseas, $6.0b (4%), net equity in life office reserves, $5.0b (3%) and land, buildings and equipment, $2.9b (4%). These were offset by decreases in holdings of short term securities, $3.9b (7%), bonds, $2.8b (5%) and other financial assets, $2.1b (10%). Members' funds and reserves increased $57.1b (5%) to $1,233.5b. Public offer (retail) unit trusts At 30 September 2010 total unconsolidated assets of public offer (retail) unit trusts were $280.4b, a decrease of $1.3b (1%) on the June quarter figure of $281.7b. The largest increases were in holdings of units in trusts, which increased $1.2b (2%), and holdings in shares, which increased $0.4b (1%). These were offset by decreases in holdings of assets overseas, $1.6b (4%), short term securities, $0.6b (14%), and bonds etc., $0.4b (7%). Cross investment within public unit trusts was $28.7b, which decreased $0.1b (1%), from the June quarter 2010 figure of $28.8b. Investor funds decreased $0.8b (0.4%); debt securities issued decreased $0.6b (9%) and loans and placements liabilities increased $1.2b (4%). Friendly societies At 30 September 2010 total unconsolidated assets of friendly societies were $6.5b, an increase of $0.3b (4%) on the June quarter 2010 figure of $ 6.3b. The main increases were in holdings of units in trusts, $0.2b (6%) and equities, $0.2b (5%). Net policy liabilities increased by $0.2b (4%). Common funds At 30 September 2010 total unconsolidated assets of common funds were $7.2b, a decrease of $0.2b (3%) on the June quarter 2010 figure of $7.4b. The main decreases were in holdings of units in trusts of $0.2b (6%) and bonds etc. of $0.1b (10%). These were partially offset by an increase in holdings of short term securities of $0.1b (17%). Cross investment within common funds was $54m, an increase of $6m (13%) on the June quarter 2010 figure. Cash management trusts At 30 September 2010 the total unconsolidated assets of cash management trusts were $29.2b, a decrease of $9.1b (24%) on the June quarter figure of $38.2b, due primarily to the closure of a large cash management trust. The major decreases were in holdings of short term securities, $7.9b (29%) and deposits, $1.0b (13%). Cross investment within cash management trusts was $1.3b, an increase of $0.02b (2%) on the June quarter figure. Investor funds decreased by $9.1b (23%) to $29.0b. RESIDENT INVESTMENT MANAGERS Source of funds under management During the September quarter 2010 total funds under management was $1,141.1b, an increase of $26.6b (2%) on the June quarter 2010 figure of $1,114.5b. The value of funds under management on behalf of: superannuation funds increased $33.1b (7 %); public offer (retail) unit trusts increased $3.2b (3%); life insurance corporations decreased $0.7b (1%); and cash management trusts decreased $9.3b (35%) due in part to the closure of a large cash management trust. At 30 September 2010, the value of funds under management on behalf of sources other than managed funds was $309.9b, a decrease of $2.6b (1%) on the June quarter 2010 figure of $312.5b. The largest increases were in funds under management on behalf of wholesale financial trusts, $2.4b (2%); and non-government trading corporations, $2.1b (12%). These were partially offset by decreases in funds under management on behalf of national government, $4.5b (9%) and other sources, $2.1b (9%). The value of funds under management on behalf of overseas sources at 30 September 2010 was $51.8b, an increase of $2.8b (6%) on the June quarter 2010 figure of $49.0b.
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