5655.0 - Managed Funds, Australia, June 2016  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/08/2016   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 June 2016, the managed funds industry had $2,721.6b funds under management, an increase of $74.9b (3%) on the March quarter 2016 figure of $2,646.7b. Increases were recorded in consolidated assets of managed funds institutions, $65.7b (3%); funds managed by Australian investment managers on behalf of overseas investors, $8.4b (9%); and funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $0.9b (0%).

The following diagram shows the total value of the managed funds industry at 30 June 2016 and the relationship between the various components of the industry:

Diagram: MANAGED FUNDS INDUSTRY


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 June 2016, the consolidated assets of managed funds institutions were $2,143.7b, an increase of $65.7b (3%) on the March quarter 2016 figure of $2,078.0b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that increased were shares, $26.6b (4%); overseas assets, $17.9b (4%); deposits, $7.4b (2%); other financial assets, $6.5b (19%); land, buildings and equipment, $5.1b (2%); bonds, etc., $3.8b (3%); short term securities, $3.0b (3%); and derivatives, $0.3b (10%). These were partially offset by decreases in units in trusts, $3.6b (2%); loans and placements, $0.9b (2%); and other non-financial assets, $0.3b (3%).

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 June 2016, total unconsolidated assets of life insurance corporations were $291.4b, a decrease of $0.6b (%) on the March quarter 2016 figure of $292.0b.

Increases were recorded in bonds, etc., $1.2b (5%); assets overseas, $0.5b (6%); other financial assets, $0.5b (8%); deposits, $0.4b (4%); shares, $0.2b (1%); and short term securities, $0.1b (2%). These were partially offset by decreases in units in trusts, $3.0b (1%); other non-financial assets, $0.2b (7%); land, buildings and equipment, $0.1b (64%); and loans and placements, $0.1b (3%). Derivatives were flat.

Cross investment within life insurance corporations was $0.8b which was flat compared to the March quarter 2016.

Net policy liabilities was $247.7b, a decrease of $1.6b (1%) compared to the March quarter 2016.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 30 June 2016, total unconsolidated assets of superannuation funds were $2,031.4b, an increase of $72.4b (4%) on the March quarter 2016 figure of $1,959.0b.

Increases were recorded in shares, $26.0b (5%); assets overseas, $16.9b (5%); units in trusts, $11.1b (4%); deposits, $7.9b (3%); other financial assets, $4.8b (22%); bonds, etc., $2.8b (4%); short term securities, $2.5b (3%); land, buildings and equipment, $2.1b (2%); and loans and placements, $0.2b (3%). These were partially offset by decreases in net equity of pension funds in life office reserves, $1.2b (1%); and derivatives, $0.7b (10%). Other non-financial assets were flat.

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



Public offer (retail) unit trusts

At 30 June 2016, total unconsolidated assets of public offer (retail) unit trusts were $317.1b, an increase of $2.7b (1%) on the March quarter 2016 figure of $314.4b.

Increases were recorded in land, buildings and equipment, $3.1b (3%); other financial assets, $1.8b (46%); assets overseas, $0.5b (1%); derivatives, $0.3b (13%); and deposits, $0.1b (2%). These were partially offset by decreases in units in trusts, $1.3b (2%); loans and placements, $1.0b (3%); short term securities, $0.6b (18%); shares, $0.1b (0%); and bonds, etc., $0.1b (1%). Other non-financial assets were flat.

Cross investment within public offer (retail) unit trusts was $31.4b, an increase of $0.1b (0%) compared to the March quarter 2016.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 30 June 2016, total unconsolidated assets of friendly societies were $6.8b, an increase of $0.1b (2%) on the March quarter 2016 figure of $6.6b.

Friendly societies
Graph: Friendly societies



Common funds

At 30 June 2016, total unconsolidated assets of common funds were $9.3b, an increase of $0.1b (1%) on the March quarter 2016 figure of $9.2b.

Common funds
Graph: Common funds



Cash management trusts

At 30 June 2016, total unconsolidated assets of cash management trusts were $34.3b, a decrease of $0.3b (1%) on the March quarter 2016 figure of $34.6b.

Decreases were recorded in deposits, $1.1b (13%); and bonds, etc.,$0.2b (16%). These were partially offset by an increase in short term debt securities, $1.0b (4%). Equities, non-financial assets, derivatives, loans and placements, and other financial assets were flat.

Cross investment within cash management trusts was $0.5b which was flat compared to the March quarter 2016.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 June 2016, total funds under management were $1,809.7b, an increase of $42.7b (2%) on the March quarter 2016 figure of $1,767.0b.

Funds under management on behalf of superannuation funds increased $33.3b (4%), public offer (retail) unit trusts increased $0.3b (0%) and cash management trusts increased $0.1b (0%). Life insurance corporations decreased $0.4b (0%).

At 30 June 2016, the value of funds under management on behalf of sources other than managed funds was $490.1b, an increase of $0.9b (0%) on the March quarter 2016 figure of $489.2b.

Increases were recorded in funds under management on behalf of wholesale financial trusts, $1.9b (1%); national government, $1.7b (2%); general insurance, $1.3b (3%); non-government trading corporations, $1.0b (3%); government compensation schemes, $0.3b (1%); and other investment managers, $0.1b (1%). These were partially offset by decreases in state and local government, $4.3b (8%); and other sources, $1.0b (2%). Charities were flat.

The value of funds under management on behalf of overseas sources at 30 June 2016 was $98.3b, an increase of $8.4b (9%) on the March quarter 2016 figure of $89.9b.

Assets of Managed Funds, at 30 June 2016

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

Life insurance corporations
162 768
128 639
291 407
Superannuation (pension) funds
901 244
1 130 111
2 031 354
Public offer (retail) unit trusts
131 456
185 629
317 085
Friendly societies
np
np
6 752
Common funds
np
np
9 280
Cash management trusts
19 440
14 860
34 300
Total
1 221 316
1 468 863
2 690 178

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