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5655.0 - Managed Funds, Australia, Sep 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 27/11/2008   
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ANALYSIS


CONSOLIDATED ASSETS

By type of institution

At 30 September 2008, consolidated assets of superannuation funds were $783.4b, down $15.2b (2%) on the revised June 2008 figure. Consolidated assets of public unit trusts were $268.4b, a decrease of $7.4b (3%); the consolidated assets of life insurance offices were $179.3b, a decrease of $3.8b (2%); the consolidated assets of cash management trusts were $45.2b, a decrease of $2.2b (5%); and the consolidated assets of friendly societies decreased by $0.1b (4%). Consolidated assets of common funds increased marginally by $0.1b (1%).

Graph: Life insurance offices


By type of asset

The major asset movements for the quarter were equities and units in trusts, down by $34.2b (7%); cash and deposits, up $3.3b (2%); short term securities, up $2.5b (2%); assets overseas, up $2.2b (0.9%); land and buildings, up $1.5b (0.9%); and other assets down by $1.9b (4%).


Cross investment

The table below presents the unconsolidated, cross-invested and consolidated assets of managed funds by type of fund as at 30 September 2008.

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

Life insurance offices
226 702
47 414
179 288
Superannuation funds
948 877
165 469
783 408
Public unit trusts
299 086
30 680
268 406
Friendly societies
6 861
2 832
4 029
Common funds
12 220
692
11 528
Cash management trusts
45 176
-
45 176
Total
1 538 922
247 087
1 291 835

- nil or rounded to zero (including null cells)



UNCONSOLIDATED ASSETS

Life insurance offices

At 30 September 2008, the total unconsolidated assets of life insurance offices were $226.7b, a decrease of $5.8b (2%) on the revised June quarter 2008 figure of $232.5b. Increases were recorded in short term securities of $0.7b (8%), cash and deposits at banks of $0.3b (6%) and other non-financial assets of $0.4b (22%). Offsetting this were decreases in equities and units in trusts of $6.5b (4%), and assets overseas of $0.7b (7%).

Graph: Unconsolidated assets, Life insurance offices


Superannuation funds

The total unconsolidated assets of superannuation funds held outside of life offices was $948.9b at 30 September 2008, a decrease of $19.3b (2%) on the revised June 2008 figure of $968.2b. Major decreases were recorded for: equities and units in trusts of $29.7b (7%); and long term securities of $1.4b (3%). These decreases were partially offset by increases in: cash and deposits of $4.8b (3%); assets overseas of $3.4b (2%); short term securities of $3.0b (8%), and land and buildings of $1.3b (2%).

Graph: Unconsolidated assets, Superannuation funds


Public unit trusts

The total unconsolidated assets for public unit trusts was $299.1b at 30 September 2008, down $9.2b (3%) on the revised June 2008 figure of $308.3b. The major decreases were in equities and units in trusts, down $6.2b (6%), cash and deposits, down $0.5b (7%) and other financial assets, down $1.3b (17%). These were partially offset by an increase of $0.2b (0.2%) in land and buildings.

Graph: Unconsolidated assets, Public unit trusts


Friendly societies

At 30 September 2008, total unconsolidated assets of friendly societies were $6.9b, down $0.2b (2%) on the June quarter 2008 figure. The major decrease was in other non-financial assets, down $0.1b (32%), as well as marginal decreases in short term securities and loans and placements.

Graph: Unconsolidated assets, Friendly societies


Common funds

At 30 September 2008, the total unconsolidated assets of common funds was $12.2b, up $0.2b (2%) on the June quarter 2008 figure of $12.0b. The major increases were in cash and deposits at banks, up $0.3b (11%), and equities and units in trusts, up $0.1b (10%). This was offset by decreases in short term securities, down $0.1b (4%) and long term securities, down $0.1b (7%).

Graph: Unconsolidated assets, Common funds


Cash management trusts

At 30 September 2008, the total unconsolidated assets of cash management trusts was $45.2b, down $2.2b (5%) on the June quarter 2008 figure of $47.4b. The major decreases were in bills of exchange, down $1.3b (16%), cash and deposits with banks, down $1.1b (23%), and other short term securities, down $0.5b (11%). This was partially offset by increases holdings of bank certificates of deposit, up $1.0b (4%).

Graph: Unconsolidated assets, Cash management trusts


INVESTMENT MANAGERS

Source of funds under management

During the September quarter 2008 there was a decrease in total funds under management by investment managers of $48.8b (4%) on the revised June quarter 2008 figure, bringing the total funds under management to $1,132.4b.

The value of funds under management on behalf of superannuation funds decreased by $18.3b (4%), public unit trusts decreased by $2.6b (2%), and life insurance offices decreased by $1.8b (1%).

During the quarter the value of funds under management on behalf of sources other than managed funds was $325.7b, a decrease of $22.5b (6%) on the revised June quarter 2008 figure of $348.2b. The largest decreases were in funds under management on behalf of other trusts, down $10.6b (8%); other sources, down $4.8b (11%); government, down $4.8b (5%); and other investment managers, down $2.1b (7%).

The value of funds under management on behalf of overseas sources was $49.1b, a decrease of $2.0b (4%) on the revised June quarter 2008 figure.

Graph: Investment Managers, Source of funds under management


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