5655.0 - Managed Funds, Australia, Jun 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2008   
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ANALYSIS


CONSOLIDATED ASSETS

By type of institution

At 30 June 2008, consolidated assets of superannuation funds were $799.0b, up $14.6b (2%) on the revised March 2008 figure. Consolidated assets of public unit trusts were $275.2b, a decrease of $8.2b (3%); and the consolidated assets of life insurance offices were $182.7b, a decrease of $6.8b (4%). Cash management trusts' and friendly societies' consolidated assets increased marginally by $0.2b (0.4%) and $0.1b (3%) respectively, to $47.0b and $4.2b respectively; while common funds' consolidated assets decreased marginally by $0.1b (1%) to $11.5b.

Graph: Life insurance offices


By type of asset

The major asset movements for the June 2008 quarter were assets overseas, down $7.5m (3%); equities and units in trusts, down $7.0b (1%); cash and deposits, up $5.2b (4%) and other assets, up $6.9b (17%). Other movements were land and buildings, up $2.7b (2%), short term securities, up $2.2b (2%); long term securities, down $1.5b (2%); and loans and placements, down $1.2b (3%).


Cross investment

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

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

Life insurance offices
232 028
49 333
182 695
Superannuation funds
967 987
169 028
798 958
Public unit trusts
306 709
31 555
275 155
Friendly societies
7 021
2 843
4 178
Common funds
12 021
554
11 467
Cash management trusts
47 006
-
47 006
Total
1 572 771
253 313
1 319 459

- nil or rounded to zero (including null cells)



UNCONSOLIDATED ASSETS

Life insurance offices

At 30 June 2008, the total unconsolidated assets of life insurance offices were $232.0b, a decrease of $6.6b (3%) on the revised March quarter 2008 figure of $238.7b. Increases were recorded in long term securities of $1.1b (5%) and other financial assets of $2.0b (69%). Offsetting this were decreases in loans and placements of $0.4b (13%), short term securities of $1.9b (17%), equities and units in trusts of $5.9b (3%), assets overseas of $1.2b (10%), as well as a marginal decreases in cash and deposits, land and buildings and other non-financial assets.

Graph: Unconsolidated assets, Life insurance offices


Superannuation funds

The total unconsolidated assets of superannuation funds held outside of life offices was $968.0b at 30 June 2008, an increase of $8.3b (1%) on the revised March 2008 figure of $959.7b. Major increases were recorded for: cash and deposits of $5.9b (4%); short term securities of $3.2b (7%); land and buildings of $2.5b (4%) and other financial assets of $5.5b (27%). These gains were partially offset by decreases in equities and units in trusts of $3.1b (1%), long term securities of $2.9b (5%) and assets overseas of $2.8b (1%).

Graph: Unconsolidated assets, Superannuation funds


Public unit trusts

The total unconsolidated assets for public unit trusts was $306.7b at 30 June 2008, down $9.9b (3%) on the revised March 2008 figure of $316.6b. The major decreases were in equities and units in trusts, down $5.3b (5%), assets overseas, down $3.5b (6%), loans and placements, down $0.7b (3%) and other non-financial assets, down $0.6b (6%). These were partially offset by an increase of $0.6b (9%) in holdings of cash and deposits.

Graph: Unconsolidated assets, Public unit trusts


Friendly societies

At 30 June 2008, total unconsolidated assets of friendly societies were virtually unchanged at $7.0b on the March 2008 quarter figure. The major increase was in other financial assets, up $0.1b (25%), as well as marginal increases in short term securities and long term securities. The major decrease was in equities and units in trusts, down $0.1b (4%).

Graph: Unconsolidated assets, Friendly societies


Common funds

At 30 June 2008, the total unconsolidated assets of common funds was $12.0b, down $0.2b (1%) on the March 2008 quarter figure of $12.2b. The major movements were in cash and deposits at banks, up $0.4b (17%) and other long term securities, up $0.3b (49%), short term securities, down $0.6b (13%) and equities and units in trusts $0.2b (23%).

Graph: Unconsolidated assets, Common funds


Cash management trusts

At 30 June 2008, the total unconsolidated assets of cash management trusts was $47.0b, up $0.2b (0.4%) on the March 2008 quarter figure of $46.8b. The major increases were in short term securities, up $1.8b (5%) and long term securities $0.2b (21%). This was offset by decreases in cash and deposits, down $1.6b (24%) and loans and placements, down $0.2b (7%).

Graph: Unconsolidated assets, Cash management trusts


INVESTMENT MANAGERS

Source of funds under management

During the June quarter 2008 there was a decrease in total funds under management by investment managers of $37.8b (3%) on the revised March 2008 quarter figure, bringing the total funds under management to $1,180.8b.

The value of funds under management on behalf of managed funds was $761.8b, a decrease of $9.9b (1%) on the revised March 2008 quarter figure of $771.7b. The largest movements were superannuation funds, down $2.4b (1%); public unit trusts, down $2.8b (3%); and life insurance offices, down $4.0b (3%).

The value of funds under management on behalf of sources other than managed funds was $370.6b, a decrease of $25.7b (6%) on the revised March 2008 quarter figure of $396.3b. The largest movements were in funds under management on behalf of other investment managers, down $13.4b (35%); general insurance, down $1.3b (4%) other trusts, down $8.0b (5%); and other sources, down $2.7b (5%).

The value of funds under management on behalf of overseas sources was $48.4b, a decrease of $2.2b (4%) on the revised March 2008 quarter figure.

Graph: Investment Managers, Source of funds under management