5655.0 - Managed Funds, Australia, June 2015  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 27/08/2015   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 June 2015, the managed funds industry had $2,622.2b funds under management, a decrease of $21.2b (1%) on the March quarter 2015 figure of $2,643.4b. Decreases were recorded in consolidated assets of managed funds institutions, $18.6b (1%) and funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $6.6b (1%). These were partially offset by an increase in funds managed by Australian investment managers on behalf of overseas investors, $3.7b (4%).

The following diagram shows the total value of the managed funds industry at 30 June 2015 and the relationship between the various components of the industry:

Diagram: total value of the managed funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 June 2015, the consolidated assets of managed funds institutions were $2,059.9b, a decrease of $18.6b (1%) on the March quarter 2015 figure of $2,078.6b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that decreased were shares, $29.6b (5%); units in trusts, $4.0b (2%); overseas assets, $2.7b (1%); derivatives, $0.3b (10%) and other non-financial assets, $0.3b (2%). These were partially offset by increases in other financial assets, $7.2b (24%); land, buildings and equipment, $4.1b (2%); deposits, $1.3b (0%); short term securities, $2.6b (3%); loans and placements, $2.4b (5%) and bonds, etc., $0.6b (1%).

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 June 2015, total unconsolidated assets of life insurance corporations were $298.0b, a decrease of $6.5b (2%) on the March quarter 2015 figure of $304.5b.

Decreases were recorded in units in trusts, $4.3b (2%); other financial assets, $1.1b (19%); shares, $0.6b (3%); assets overseas, $0.5b (5%); short term securities, $0.4b (7%); derivatives, $0.3b (32%) and other non-financial assets, $0.1b (5%). These were partially offset by increases in deposits, $0.5b (5%); loans and placements, $0.2b (6%) and bonds, etc., $0.1b (0%). Land, buildings and equipment were flat.

Cross investment within life insurance corporations was $0.8b, which was flat compared to the March quarter 2015.

Net policy liabilities were $255.5b, a decrease of $5.0b (2%) compared to the March quarter 2015.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 30 June 2015, total unconsolidated assets of superannuation funds were $1,933.5b, a decrease of $25.8b (1%) on the March quarter 2015 figure of $1,959.3b.

Decreases were recorded in shares, $27.7b (5%); units in trusts, $4.6b (2%); net equity of pension funds in life office reserves, $2.5b (1%); assets overseas, $0.3b (0%); loans and placements, $0.1b (1%), and deposits, $0.1b (0%). These were partially offset by increases in other financial assets, $6.0b (29%); land, buildings and equipment, $1.7b (2%); short term securities, $1.0b (1%); derivatives, $0.6b (21%); bonds, etc., $0.1b (0%). Other non-financial assets were flat.

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



Public offer (retail) unit trusts

At 30 June 2015, total unconsolidated assets of public offer (retail) unit trusts were $312.6b, an increase of $1.0b (0%) on the March quarter 2015 figure of $311.5b.

Increases were recorded in loans and placements, $2.4b (7%); land, buildings and equipment, $2.4b (2%); other financial assets, $1.4b (35%); short term securities, $0.8b (29%); deposits, $0.6b (11%) and bonds, etc., $0.2b (3%). These were partially offset by decreases in units in trusts, $3.4b (4%); assets overseas, $1.9b (5%) and shares, $1.7b (5%). Other non-financial assets, and derivatives were flat.

Cross investment within public offer (retail) unit trusts was $32.3b, a decrease of $2.0b (6%) compared to the March quarter 2015.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 30 June 2015, total unconsolidated assets of friendly societies were $6.7b, a decrease of $0.1b (2%) on the March quarter 2015 figure of $6.9b.

Friendly societies
Graph: Friendly societies



Common funds

At 30 June 2015, total unconsolidated assets of common funds were $9.1b, a decrease of $0.1b (1%) on the March quarter 2015 figure of $9.2b.

Common funds
Graph: Common funds



Cash management trusts

At 30 June 2015, total unconsolidated assets of cash management trusts were $34.3b, an increase of $1.4b (4%) on the March quarter 2015 figure of $32.9b.

Increases were recorded in short term securities, $1.1b (5%); deposits, $0.2b (3%) and bonds, etc., $0.1b (17%). Equities, loans and placements, derivatives, non-financial assets and other financial assets were flat.

Cross investment within cash management trusts was $0.6b which was flat compared to the March quarter 2015.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 June 2015, total funds under management were $1,734.3b, a decrease of $23.6b (1%) on the March quarter 2015 figure of $1,757.9b.

Funds under management on behalf of superannuation funds decreased $19.9b (2%) and life insurance corporations decreased $1.2b (1%). Cash management trusts increased $0.2b (1%) and public offer (retail) unit trusts increased $0.2b (0%). Common funds and friendly societies were flat.

At 30 June 2015, the value of funds under management on behalf of sources other than managed funds was $479.0b, a decrease of $6.6b (1%) on the March quarter 2015 figure of $485.6b.

Decreases were recorded in funds under management on behalf of wholesale financial trusts, $5.2b (3%); national government, $1.6b (2%); other investment managers, $0.3b (3%); general insurance, $0.2b (0%) and government compensation schemes, $0.2b (1%). These were partially offset by increases in state and local government, $0.4b (1%); non-government trading corporations, $0.3b (1%) and other sources, $0.3b (1%). Charities were flat.

The value of funds under management on behalf of overseas sources at 30 June 2015 was $94.1b, an increase of $3.7b (4%) on the March quarter 2015 figure of $90.4b.

Assets of Managed Funds, at 30 June 2015

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

Life insurance corporations
164 322
133 692
298 014
Superannuation (pension) funds
839 827
1 093 695
1 933 523
Public offer (retail) unit trusts
132 079
180 475
312 554
Friendly societies
np
np
6 743
Common funds
np
np
9 061
Cash management trusts
19 452
14 862
34 314
Total
1 161 172
1 433 036
2 594 209

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