5655.0 - Managed Funds, Australia, Sep 2017  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 08/12/2017   
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SEPTEMBER KEY FIGURES

Jun Qtr 2017
Sep Qtr 2017
$m
$m

Total managed funds industry
3 231 291
3 270 344
Consolidated assets total managed funds institutions
2 636 841
2 663 608
Cross invested assets between managed funds institutions
543 110
549 380
Unconsolidated assets total managed funds institutions
3 179 951
3 212 988
Life insurance corporations
238 351
237 728
Superannuation (pension) funds
2 547 111
2 577 893
Public offer (retail) unit trusts
337 861
342 740
All other managed funds institutions
56 627
54 627


Managed Funds
Graph: This graph shows the value of the managed funds industry and the consolidated assets of total managed funds institutions.

Unconsolidated Assets, by type of institution
Graph: This graph shows the unconsolidated assets of life insurance corporations, superannuation (pension) funds, public offer (retail) unit trusts and other managed funds institutions.




SEPTEMBER KEY POINTS


TOTAL MANAGED FUNDS INDUSTRY
  • At 30 September 2017, the managed funds industry had $3,270.3b funds under management, an increase of $39.0b (1%) on the June quarter 2017 figure of $3,231.3b.
  • The main valuation effects that occurred during the September quarter 2017 were as follows: the S&P/ASX 200 decreased 0.7%; the price of foreign shares, as represented by the MSCI World Index excluding Australia, increased 4.5%; and the A$ appreciated 1.9% against the US$.


CONSOLIDATED ASSETS OF MANAGED FUNDS INSTITUTIONS
  • At 30 September 2017, the consolidated assets of managed funds institutions were $2,663.6b, an increase of $26.8b (1%) on the June quarter 2017 figure of $2,636.8b.
  • The asset types that increased were overseas assets, $23.0b (6%); units in trusts, $9.4b (1%); shares, $9.3b (2%); land, buildings and equipment, $6.6b (2%); bonds, etc., $1.8b (2%); short term securities, $1.0b (1%); and other non-financial assets, $0.5b (5%). These were partially offset by decreases in deposits, $13.6b (5%); derivatives, $8.9b (21%); other financial assets, $2.4b (1%); and loans and placements, $0.1b (0%).


CROSS INVESTED ASSETS
  • At 30 September 2017, there were $549.4b of assets cross invested between managed funds institutions.


UNCONSOLIDATED ASSETS
  • At 30 September 2017, the unconsolidated assets of total managed funds institutions increased $33.0b (1%), superannuation (pension) funds increased $30.8b (1%), public offer (retail) unit trusts increased $4.9b (1%) and common funds increased $0.2b (3%). Cash management trusts decreased $2.3b (6%) and life insurance corporations decreased $0.7b (0%). Friendly societies were flat.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2017 8 March 2018
March 2018 7 June 2018
June 2018 6 September 2018
September 2018 29 November 2018



CHANGES IN FORTHCOMING ISSUES

The next release will include minor changes to some graphs. The time frame of the graphs for Managed Funds and Unconsolidated Assets in the Main Features section will be extended from five quarters to a five year time frame. In the Analysis section, the chart showing the current quarter's levels of consolidated assets by types of asset will change to indicate quarterly movements.


REVISIONS

There have been revisions as a result of the implementation of the Superannuation data changes described below, and also as a result of the receipt of revised administrative data, survey data, the inclusion of new survey respondents and, in Table 2, improvements to the aggregation of data items.
  • Table 2 Summary Managed Funds institutions - revised back to the June quarter 1988.
  • Table 3 Life insurance corporations - revised back to the September quarter 2005.
  • Table 4 Superannuation (pension) funds - revised back to the September quarter 1998. The significant increase between June and September 2016 in Other financial assets is due to the adoption of the accounting standard (AASB 1056 Superannuation Entities) effective 1 July 2016 that recognises for the first time employer sponsor receivables by applicable Public Sector Superannuation Entities.
  • Table 5 Public offer (retail) unit trusts - revised back to the June quarter 2013.
  • Table 6 Friendly Societies - no revisions.
  • Table 7 Common funds - no revisions.
  • Table 8 Cash management trusts - revised back to the March quarter 2013.
  • Table 9 Resident Investment Managers - revised back to the September quarter 2005.


SUPERANNUATION DATA

The superannuation statistics in Managed Funds, Australia, are compiled from APRA's Registrable Superannuation Entities (RSEs) reporting forms, and the Australian Taxation Office's (ATO) Self-managed Superannuation Fund Annual Returns form. This September 2017 release includes revisions to previously published Superannuation data primarily as a result of updated reporting standards for RSEs and to better reflect current industry practices. The updated reporting standards are focussed around two international standards; the System of National Accounts (SNA) and the Balance of Payments Manual (BPM) and are designed to reflect the detailed counterparty and asset class information inherent to these standards. These changes, along with the inclusion of some data items that were not previously captured has resulted in relatively minor revisions to total asset levels. There have been significant revisions however to more detailed data items particularly as a result of a change in the treatment of Superannuation entities investments in units (equity) in wholesale trusts. The disaggregation of units in wholesale trusts into property and infrastructure trusts, and other trusts is available from September 2016 onwards. Prior to this, disaggregated data is not available for publication but is included in totals, where applicable.

Aside from the revisions resulting from updated reporting standards, the adoption of the accounting standard AASB 1056 has significantly increased revisions to total asset levels from September 2016 to June 2017.

More detail on the revisions is provided in the Information paper: Changes to Managed Funds to incorporate data from updated Superannuation funds reporting standards, 2017 (cat. no. 5655.0.55.004) released on 30 November 2017.

Further detail on the Superannuation statistics contained in this publication are also found in the explanatory notes in paragraphs 12 to 17.


PRIVACY

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INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.