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5655.0 - Managed Funds, Australia, Jun 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/08/2006   
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JUNE KEY FIGURES

Jun Qtr 2005
Mar Qtr 2006
Jun Qtr 2006
CONSOLIDATED ASSETS
$m
$m
$m

Superannuation funds
445 002
535 283
544 710
Life insurance offices(a)
191 353
205 340
203 736
Other managed funds
233 190
270 463
279 069
Total
869 545
1 011 085
1 027 515

(a) Investments by superannuation funds which are held and administered by life insurance offices are included under life insurance offices.
See note on consolidation in Explanatory Notes, paragraph 10.

Total consolidated assets
Graph: Graph - Total consolidated assets



JUNE KEY POINTS


CONSOLIDATED ASSETS
  • Total consolidated assets of managed funds institutions was $1027.5b at 30 June 2006, an increase of $16.4b (1.6%) on the revised March quarter 2006 figure of $1011.1b.
  • Consolidated assets of superannuation funds increased by $9.4b (1.8%), public unit trusts by $7.0b (3.2%) and cash management trusts by $1.3b (3.6%). Partially offsetting these increases was a decrease in the consolidated assets of life insurance offices by $1.6b (-0.8%).
  • Investment in cash and deposits increased by $8.2b (12.5%), land and buildings, up $6.0b (5.4%), long term securities, up $3.7b (4.6%), loans and placements, up $2.4b (11.0%), and assets overseas, up $2.1b (0.9%). Investment in short term securities fell by $7.7b (-8.9%).
  • Investment in equities and units in trust increased marginally by $0.5b (0.1%). This reflected decreases in asset values during the June quarter 2006. The S&P/ASX 200 fell 1.1%, the price of foreign shares (represented by the US S&P 500) fell 1.9%, and the $A appreciated against the $US by 3.8%. Domestic bond prices rose during the quarter with the 5 year Treasury Bond yield increasing from 5.31% to 5.72%.
  • Investment managers had $972.8b in funds under management at 30 June 2006, up $3.8b (0.4%) on the revised March quarter 2006 figure of $969.0b. They managed $689.7b (67.1%) of the consolidated assets of managed funds institutions.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2006 24 November 2006
December 2006 30 March 2007



REVISIONS THIS ISSUE

There have been revisions in some series as a result of quality assurance work undertaken with data providers.



SIGNIFICANT EVENTS

There are no significant events in this issue.



ROUNDING

Discrepancies may occur between sums of the component items and totals due to rounding.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Sawbhag Naidu on Canberra (02) 6252 5386.



ANALYSIS


CONSOLIDATED ASSETS

By type of institution

At 30 June 2006, consolidated assets of superannuation funds were $544.7b, up $9.4b (1.8%) on the revised March 2006 figure. Consolidated assets of public unit trusts increased by $7.0b (3.2%) and cash management trusts by $1.3b (3.6%). Consolidated assets of life insurance offices decreased by $1.6b (-0.8%). Assets of common funds and friendly societies have increased marginally on the March quarter figures.

Graph: Consolidated assests by type of institution


By type of asset

The major asset movements for the quarter were cash and deposits, up $8.2b (12.5%), short-term securities, down $7.7b (-8.9%), land and buildings, up $6.0b (5.4%), long term securities, up $3.7b (4.6%), loans and placements, up $2.4b (11.0%), assets overseas, up $2.1b (0.9%), and other assets, up $1.2b (4.1%).


Cross investment

The table below presents the unconsolidated, cross-invested and consolidated assets of managed funds by type of fund as at 30 June 2006.

Unconsolidated assets
Cross- invested assets
Consolidated assets
Type of fund
$m
$m
$m

Life insurance offices
238 278
34 543
203 736
Superannuation funds
716 391
171 680
544 710
Public unit trusts
260 176
34 120
226 056
Friendly societies
6 735
2 136
4 599
Common funds
10 687
454
10 234
Cash management trusts
38 181
-
38 181
Total
1 270 448
242 933
1 027 515

- nil or rounded to zero (including null cells)



UNCONSOLIDATED ASSETS

Life insurance offices

At 30 June 2006, the total assets of life insurance offices were $238.3b, a decrease of $1.5b (-0.7%) on the revised March 2006 figure of $239.8b. Major decreases were recorded in equities and units in trusts of $2.2b (-1.4%), short term securities of $0.6b (-4.9%) and other financial assets of $0.4b (-14.0%). Partially offsetting this was an increase in long term securities of $1.4b (5.7%).

Graph: Unconsolidated assets of life insurance offices


Superannuation funds

The total assets of superannuation funds held outside of life offices was $716.4b at 30 June 2006, an increase of $13.3b (1.9%) on the revised March 2006 quarter figure. Major increases were recorded for equities and units in trusts of $5.8b (1.7%), cash and deposits of $5.7b (9.9%), other financial assets of $2.1b (20.0%), assets overseas of $1.8b (1.2%) and land and buildings $1.1b (3.1%), Major decreases were recorded for short term securities of $2.9b (-8.4%) and long term securities of $0.6b (-1.2%).

Graph: Unconsolidated assets of superannuation funds


Public unit trusts

The total assets for public unit trusts was $260.2b at 30 June 2006, up $7.0b (2.7%) on the revised March 2006 figure of $253.2b. The major increases were in land and buildings, up $4.5b (6.5%) and loans and placements, up $2.0b (30.5%). Other non-financial assets decreased by $1.2b (-9.6%) and short term securities decreased by $0.6b (-9.9%).

Graph: Unconsolidated assets of public unit trusts


Friendly societies

Total assets of friendly societies was $6.7b at 30 June 2006, virtually unchanged from the March 2006 figure. There was an increase in cash and deposits, up $0.4b (62.0%), which was offset by a decrease in short term securities of $0.4b (-32.3%).

Graph: Unconsolidated assets of friendly societies


Common funds

Total assets of common funds was $10.7b at 30 June 2006, up $0.3b (2.7%) on the March 2006 figure of $10.4b. There was an increase in cash and deposits, of $0.2b (11.9%) and a decrease in short term securities of $0.1b (-2.3%).

Graph: Unconsolidated assets of common funds


Cash management trusts

Total assets of cash management trusts was $38.2b at 30 June 2006, up $1.3b (3.6%) on the March 2006 figure of $36.9b. Major increases were in long term securities of $2.6b (107.5%) and cash and deposits of $1.8b (47.5%). This was partially offset by a decrease in short term securities of $3.1b (-10.9%).

Graph: Unconsolidated assets of cash management trusts



INVESTMENT MANAGERS

Source of funds under management

During the June quarter 2006, there was an increase in total funds under management by investment managers of $3.8b (0.4%), bringing the total funds under management to $972.8b.


The value of funds under management on behalf of superannuation funds increased by $2.8b (0.7%) and cash management trusts increased by $1.2b (4.1%). This was partially offset by a decrease in the value of funds under management on behalf of life insurance offices of $1.3b (-0.9%).


During the quarter, the value of funds under management on behalf of sources other than managed funds increased $1.1b (0.4%). Of this, the largest increases were in funds under management on behalf of other trusts, up $2.4b (1.9%) and government, up $1.5b (6.4%). These were partially offset by a decrease in funds under management on behalf of other investment managers, down $2.9b (-10.3%), and general insurance, down $0.7b (-2.3%).


The value of funds under management on behalf of overseas sources remained virtually unchanged ($40.5b) on the March 2006 quarter figure.


The value of managed funds assets invested through investment managers was $689.7b at 30 June 2006, representing 67.1% of the consolidated assets of managed funds.

Graph: Investment Managers - Sources of funds under management

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