5655.0 - Managed Funds, Australia, Mar 2013  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 30/05/2013   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 31 March 2013, the managed funds industry had $2,093.9b funds under management, an increase of $69.4b (3%) on the December quarter 2012 figure of $2,024.5b. Increases were recorded in consolidated assets of managed funds institutions, $60.9b (4%); and funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $11.4b (3%). These were partially offset by decreases in funds managed by Australian investment managers on behalf of overseas investors, $2.3b (3%).

The following diagram shows the values of the Total Managed Funds Industry at 31 March 2013 and the relationships between the components of the industry:

Diagram shows the flows of funds in the Managed funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 31 March 2013, the consolidated assets of managed funds institutions were $1,662.8b, an increase of $60.9b (4%) on the December quarter 2012 figure of $1,602.0b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that increased were shares, $32.5b (7%); overseas assets, $14.3b (5%); units in trusts, $5.1b (3%); short term securities, $4.8b (5%); land, buildings and equipment, $2.3b (1%); deposits, $2.1b (1%); other financial assets, $0.6b (2%); bonds, etc., $0.5b (1%); and derivatives, $0.2b (19%). These were partially offset by decreases in other non-financial assets, $0.9b (4%); and loans and placements, $0.6b (2%).

The following chart shows the levels of the asset types of managed funds institutions at 31 March 2013.

Managed Funds Institutions Assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 31 March 2013, total unconsolidated assets of life insurance corporations were $252.1b, an increase of $6.0b (2%) on the December quarter 2012 figure of $246.2b.

Increases were recorded in units in trusts, $6.5b (4%); shares, $1.0b (5%); other financial assets, $0.5b (12%); assets overseas, $0.3b (2%); derivatives, $0.1b (41%); and loans and placements, $0.1b (6%).

These were partially offset by decreases in deposits, $1.1b (9%); bonds, etc., $1.0b (5%); short term securities, $0.4b (7%). Land, buildings and equipment, and other non-financial assets were flat.

Cross investment within life insurance corporations was $1.9b which was flat compared to the December quarter 2012.

Net policy liabilities was $215.4b, an increase of $5.6b (3%) on the previous quarter.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 31 March 2013, total unconsolidated assets of superannuation funds were $1,525.7b, an increase of $69.3b (5%) on the December quarter 2012 figure of $1,456.4b.

Increases were recorded in shares, $30.0b (7%); assets overseas, $14.0b (6%); units in trusts, $7.4b (4%); short term securities, $6.6b (10%); net equity of pension funds in life office reserves, $5.5b (3%); deposits, $2.5b (1%); land, buildings and equipment, $1.8b (2%); bonds, etc., $1.7b (3%); and derivatives, $0.2b (3%).

These were partially offset by decreases in other financial assets, $0.4b (2%).

Other non-financial assets, and loans and placements were flat.

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



Public offer (retail) unit trusts

At 31 March 2013, total unconsolidated assets of public offer (retail) unit trusts were $268.2b, an increase of $3.0b (1%) on the December quarter 2012 figure of $265.2b.

Increases were recorded in units in trusts, $2.8b (5%); shares, $1.3b (4%); land, buildings and equipment, $0.5b (1%); and derivatives, $0.1b (10%).

These were partially offset by decreases in loans and placements, $0.7b (4%); other financial assets, $0.6b (7%); short term securities, $0.3b (11%); deposits, $0.1b (3%); and assets overseas, $0.1b (0%).

Other non-financial assets, and bonds, etc. were flat.

Cross investment within public offer (retail) unit trusts was $29.8b, an increase of $1.6b (6%) compared to the December quarter 2012.

Public Offer (Retail) Unit Trusts
Graph: Public Offer (retail) Unit Trusts



Friendly societies

At 31 March 2013, total unconsolidated assets of friendly societies were $6.0b which was flat on the December quarter 2012 figure of $5.9b.

Friendly Societies
Graph: Friendly societies



Common funds

At 31 March 2013, total unconsolidated assets of common funds were $7.6b, a decrease of $0.2b (3%) on the December quarter 2012 figure of $7.8b.

Common Funds
Graph: Common funds



Cash management trusts

At 31 March 2013, total unconsolidated assets of cash management trusts were $28.0b, a decrease of $0.4b (2%) on the December quarter 2012 figure of $28.4b.

Decreases were recorded in short term securities, $1.1b (7%); equities, $0.2b (12%); and bonds, etc., $0.2b (13%). These were partially offset by increase in deposits, $1.0b (11%). Derivatives, loans and placements, non-financial assets, and other financial assets were flat.

Cross investment within cash management trusts was $1.4b, a decrease of $0.2b (12%) compared to the December quarter 2012.

Cash Management Trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 31 March 2013, total funds under management were $1,365.0b, an increase of $46.5b (4%) on the December quarter 2012 figure of $1,318.5b.

Funds under management on behalf of superannuation funds increased $34.2b (6%), public offer (retail) unit trusts increased $2.6b (2%), life insurance corporations increased $0.4b (0%), and cash management trusts increased $0.3b (2%). Common funds and friendly societies were flat.

At 31 March 2013, the value of funds under management on behalf of sources other than managed funds was $365.3b, an increase of $11.4b (3%) on the December quarter 2012 figure of $353.9b.

Increases were recorded in funds under management of behalf of wholesale financial trusts, $8.4b (6%); non-government trading corporations, $1.6b (7%); general insurance, $1.0b (3%); state and local government, $0.9b (2%); other sources, $0.7b (3%); and other investment managers, $0.5b (6%). These were partially offset by decreases in national government, $1.9b (3%). Government compensation schemes and charities were flat.

The value of funds under management on behalf of overseas sources at 31 March 2013 was $75.1b, a decrease of $2.3b (3%) on the December quarter 2012 figure of $77.3b.

Assets of Managed Funds, at 31 March 2013

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

Life insurance corporations
161 110
91 018
252 128
Superannuation funds
625 338
900 328
1 525 666
Public offer unit trusts
115 493
152 688
268 181
Friendly societies
1 123
4 850
5 973
Common funds
4 037
3 548
7 585
Cash management trusts
17 534
10 432
27 966
Total
924 635
1 162 864
2 087 499