5655.0 - Managed Funds, Australia, Mar 2015  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/05/2015   
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This document was added or updated on 23/06/2015.

ANALYSIS


MANAGED FUNDS INDUSTRY

At 31 March 2015, the managed funds industry had $2,617.4b funds under management, an increase of $113.4b (5%) on the December quarter 2014 figure of $2,504.1b. Increases were recorded in consolidated assets of managed funds institutions, $99.4b (5%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $14.2b (3%); and funds managed by Australian investment managers on behalf of overseas investors, $0.2b (0%).

The following diagram shows the total value of the managed funds industry at 31 March 2015 and the relationship between the various components of the industry:

Diagram: Managed Funds


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 31 March 2015, the consolidated assets of managed funds institutions were $2,071.7b, an increase of $99.4b (5%) on the December quarter 2014 figure of $1,972.3b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that increased were shares, $45.4b (8%); overseas assets, $29.7b (7%); units in trusts, $10.7b (5%); other financial assets, $3.1b (12%); short term securities, $2.5b (3%); land, buildings and equipment, $2.4b (1%); bonds, etc., $2.1b (2%); deposits, $2.0b (1%); loans and placements, $1.1b (2%); and derivatives, $0.7b (34%). These were partially offset by decreases in other non-financial assets, $0.2b (1%).

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 31 March 2015, total unconsolidated assets of life insurance corporations were $304.6b, an increase of $14.3b (5%) on the December quarter 2014 figure of $290.2b.

Increases were recorded in units in trusts, $11.7b (6%); shares, $0.9b (5%); assets overseas, $0.9b (9%); other financial assets, $0.6b (12%); loans and placements, $0.6b (22%); bonds, etc., $0.5b (2%); and derivatives, $0.2b (25%). These were partially offset by decreases in deposits, $0.7b (7%); and short term securities, $0.2b (4%). Land, buildings and equipment, and other non-financial assets were flat.

Cross investment within life insurance corporations was $0.8b, which was flat compared to the December quarter 2014.

Net policy liabilities was $260.5b, an increase of $11.8b (5%) compared to the December quarter 2014.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 31 March 2015, total unconsolidated assets of superannuation funds were $1,952.8b, an increase of $106.2b (6%) on the December quarter 2014 figure of $1,846.5b.

Increases were recorded in shares, $42.5b (8%); assets overseas, $28.0b (8%); units in trusts, $15.4b (7%); net equity of pension funds in life office reserves, $10.6b (5%); deposits, $3.7b (1%); other financial assets, $2.3b (14%); land, buildings and equipment, $1.4b (1%); short term securities, $1.1b (2%); bonds, etc., $1.0b (1%); loans and placements, $0.1b (2%); and derivatives, $0.1b (4%). Other non-financial assets were flat.

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



Public offer (retail) unit trusts

At 31 March 2015, total unconsolidated assets of public offer (retail) unit trusts were $311.5b, an increase of $8.9b (3%) on the December quarter 2014 figure of $302.6b.

Increases were recorded in units in trusts, $4.4b (6%); shares, $2.0b (6%); land, buildings and equipment, $1.0b (1%); assets overseas, $0.8b (2%); derivatives, $0.5b (39%); bonds, etc., $0.5b (8%); and loans and placements, $0.4b (1%). These were partially offset by decreases in deposits, $0.5b (8%); and other financial assets, $0.2b (4%). Short term securities, and other non-financial assets were flat.

Cross investment within public offer (retail) unit trusts was $34.3b, an increase of $2.2b (7%) compared to the December quarter 2014.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 31 March 2015, total unconsolidated assets of friendly societies were $6.9b, an increase of $0.2b (2%) on the December quarter 2014 figure of $6.7b.

Friendly societies
Graph: Friendly societies



Common funds

At 31 March 2015, total unconsolidated assets of common funds were $8.3b, an increase of $0.1b (1%) on the December quarter 2014 figure of $8.3b.

Common funds
Graph: Common funds



Cash management trusts

At 31 March 2015, total unconsolidated assets of cash management trusts were $25.6b, an increase of $1.4b (6%) on the December quarter 2014 figure of $24.3b.

Increases were recorded in short term securities, $1.7b (12%); and equities, $0.2b (31%). These were partially offset by decreases in deposits, $0.5b (6%); and bonds, etc., $0.1b (9%). Other financial assets, non-financial assets, loans and placements, and derivatives were flat.

Cross investment within cash management trusts was $0.6b, an increase of $0.2b (31%) compared to the December quarter 2014.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 31 March 2015, total funds under management were $1,733.1b, an increase of $70.9b (4%) on the December quarter 2014 figure of $1,662.2b.

Funds under management on behalf of superannuation funds increased $50.0b (6%), public offer (retail) unit trusts increased $5.3b (4%), life insurance corporations increased $0.8b (0%), and cash management trusts increased $0.2b (1%). Friendly societies, common funds were flat.

At 31 March 2015, the value of funds under management on behalf of sources other than managed funds was $466.5b, an increase of $14.2b (3%) on the December quarter 2014 figure of $452.3b.

Increases were recorded in funds under management of behalf of wholesale financial trusts, $6.9b (4%); national government, $4.4b (5%); state and local government, $2.2b (4%); other sources, $0.6b (1%); other investment managers, $0.5b (5%); government compensation schemes, $0.1b (1%); general insurance, $0.1b (0%); and charities, $0.1b (5%). These were partially offset by decreases in non-government trading corporations, $0.6b (4%).

The value of funds under management on behalf of overseas sources at 31 March 2015 was $90.4b, an increase of $0.2b (0%) on the December quarter 2014 figure of $90.2b.

Assets of Managed Funds, at 31 March 2015

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

Life insurance corporations
163 658
140 899
304 557
Superannuation (pension) funds
887 094
1 065 667
1 952 761
Public offer (retail) unit trusts
133 299
178 220
311 519
Friendly societies
np
np
6 859
Common funds
np
np
8 335
Cash management trusts
19 228
6 407
25 635
Total
1 208 792
1 400 874
2 609 667

np not available for publication but included in totals where applicable, unless otherwise indicated