5655.0 - Managed Funds, Australia, Dec 2010
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 25/02/2011
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ANALYSIS MANAGED FUNDS INSTITUTIONS Consolidated assets of managed funds institutions As at 31 December 2010 the consolidated assets of managed funds institutions were $1,422.7b, an increase of $29.6b (2%) on the September quarter 2010 figure of $1,393.1b. Consolidated assets by types of asset The asset types to increase during the quarter were shares, $16.5b (4%); land, buildings and equipment, $4.9b (3%); units in trusts, $3.5b (2%); deposits, $2.5b (1%); overseas assets, $2.4b (1%); bonds, $1.4b (2%) and other financial assets, $1.1b (3%). The asset types to decrease were derivatives, $1.3b (35%); other non-financial assets, $0.9b (5%); loans and placements, $0.4b (1%) and short term securities, $0.2b (0.2%); The following chart shows the level at 31 December 2010 of the asset types of Managed Funds Institutions. UNCONSOLIDATED ASSETS Life insurance corporations At 31 December 2010, total unconsolidated assets of life insurance corporations were $232.7b, an increase of $2.1b (1%) on the September quarter 2010 figure of $230.6b. The largest increases were in units in trusts, $2.9b (2%) and bonds etc, $1.4b (8%). These were partially offset by decreases in short term securities, $0.7b (7%), assets overseas, $0.6b (6%), deposits, $0.5b (6%), shares, $0.2b (1%) and other non-financial assets, $0.1b (3%). Cross investment within life insurance corporations was $1.0b, virtually the same as the previous quarter. Net policy liabilities increased by $2.9b (1%) to $206.7b; debt securities issued decreased by $0.3b (14%); loans and placements decreased by $0.2b (18%) and other liabilities decreased by $0.2b (3%). Superannuation (pension) funds At 31 December 2010, total unconsolidated assets of superannuation funds were $1,278.4b, an increase of $39.8b (3%) on the September quarter 2010 figure of $1,238.6b. The largest increases were in holdings of shares, $18.9b (5%); units in trusts, $8.1b (5%); net equity of pension funds in life office reserves, $3.7b (2%); deposits, $2.7b (2%); and short term securities, $2.4b (5%). These were offset by a decrease in other financial assets, $1.5b (8%). Members' funds and reserves increased by $41.0b (3%) to $1,262.5b. Public offer (retail) unit trusts At 31 December 2010 total unconsolidated assets of public offer (retail) unit trusts were $286.4b, an increase of $3.4b (1%) on the September quarter 2010 figure of $282.9b. The largest increases were in holdings of land, buildings and equipment, $3.9b (5%); other financial assets, $2.2b (53%) and units in trusts, $2.0b (3%). These were offset by decreases in holdings in shares, $1.8b (5%) and derivatives, $1.3b (41%). Cross investment within public unit trusts was $34.1b, which increased $1.5b (5%), from the September quarter 2010 figure of $32.6b. Investor funds increased $3.7b (2%); debt securities issued increased $3.2b (52%) while loans and placements liabilities decreased $5.6b (16%). Friendly societies At 31 December 2010 total unconsolidated assets of friendly societies were $6.4b, a decrease of $0.1b (2%) on the September quarter 2010 figure of $6.5b. The largest decreases were in deposits, $0.06b (15%) and short term securities, $0.06b (9%). Net policy liabilities decreased by $0.2b (3%). Common funds At 31 December 2010 total unconsolidated assets of common funds were $7.2b, virtually unchanged from the September quarter 2010. Cash management trusts At 31 December 2010 the total unconsolidated assets of cash management trusts were $27.1b, a decrease of $2.1b (7%) on the September quarter 2010 figure of $29.1b. The largest decreases were in holdings of short term securities, $2.1b (11%) and bonds etc., $0.8b (39%). These were partially offset by an increase in deposits of $0.8b (15%). Cross investment within cash management trusts was $1.3b, virtually unchanged from the September quarter. Investor funds decreased by $2.1b (7.1%) to $27.0b. RESIDENT INVESTMENT MANAGERS Source of funds under management At 31 December 2010 total funds under management was $1,178.6b, an increase of $34.5b (3%) on the September quarter 2010 figure of $1,144.1b. The value of funds under management on behalf of superannuation funds increased $18.3b (4%); public offer (retail) unit trusts increased $2.2b (2%); life insurance corporations increased $0.5b (0.4%); and cash management trusts decreased $0.2b (1.4%). At 31 December 2010, the value of funds under management on behalf of sources other than managed funds was $326.8b, an increase of $10.8b (3%) on the September quarter 2010 figure of $316.0b. The largest increases were in funds under management on behalf of wholesale financial trusts, $6.7b (5%); and non-government trading corporations, $2.3b (12%). These were partially offset by a decrease in funds under management on behalf of national government, $2.0b (4%). The value of funds under management on behalf of overseas sources at 31 December 2010 was $57.1b, an increase of $2.9b (5%) on the September quarter 2010 figure of $54.1b.
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