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By type of asset
The major asset movements for the quarter were equities and units in trusts, down $14.5b (2%), assets overseas, up $12.0b (4%), land and buildings, down $1.8b (1%), long term securities, down $1.7b (2%) and short term securities, up $1.2b (1%).
The total assets of superannuation funds held outside of life offices was $967.0b at 31 December 2007, an increase of $1.1b (0.1%) on the revised September 2007 figure of $965.9b. Major increases were recorded for: assets overseas of $10.6b (5%), and short term securities of 1.1b (3%). These gains were partially offset by decreases in: equities and units in trusts of $8.5b (2%), cash and deposits of $2.1b (2%), and long term securities of $0.4b (1%).
Public unit trusts
The total assets for public unit trusts was $312.2b at 31 December 2007, down $5.5b (2%) on the revised September 2007 figure of $317.7b. The major decreases were in equities and units in trusts, down $3.5b (3%), land and buildings, down $2.3b (3%) and other non-financial assets, down $0.7b (4%). These were offset partially by an increase of $1.2b (2%) in holdings of assets overseas.
Total assets of friendly societies was $7.3b at 31 December 2007, which was a marginal increase on the September quarter 2007 figure of $7.2b. Major movements were an increase in non-financial assets, up $0.1b (25%) and a decrease in loans and placements, down $0.1b (14%).
Total assets of common funds was $12.3b at 31 December 2007, down $0.2b (1%) on the September quarter 2007 figure. The major increase was in short term securities, up $0.2b (6%), as well as a marginal increase in loans and placements. This was offset by a decrease in cash and deposits, down $0.3b (10%) and long term securities, down $0.1b (8%); as well and marginal decreases in equities and units in trusts, other non-financial assets and assets overseas.
Cash management trusts
Total assets of cash management trusts was $45.7b at 31 December 2007, down $0.8b (2%) on the September quarter 2007 figure. The major increase was loans and placements, up $0.1b (4%). This was offset by decreases in cash and deposits, down $0.6b (7%), long term securities, down $0.2b (6%), as well as marginal decreases in short term securities and other financial assets.
Source of funds under management
During the December quarter 2007 there was a decrease in total funds under management by investment managers of $10.9b (1%) on the revised September quarter figure of $1269.5b, bringing the total funds under management to $1,258.7b.
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