5655.0 - Managed Funds, Australia, Mar 2019  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/06/2019   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

ANALYSIS


MANAGED FUNDS INDUSTRY

At 31 March 2019, the managed funds industry had $3,590.4b funds under management, an increase of $175.4b (5.1%) on the December quarter 2018 figure of $3,415.1b. Increases were recorded in consolidated assets of managed funds institutions, $140.9b (5.1%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $27.9b (5.3%); funds managed by Australian investment managers on behalf of overseas investors, $7.0b (5.9%).

The following diagram shows the total value of the managed funds industry at 31 March 2019 and the relationship between the various components of the industry:

Diagram: Managed Funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 31 March 2019, the consolidated assets of managed funds institutions were $2,920.3b, an increase of $140.9b (5.1%) on the December quarter 2018 figure of $2,779.4b.

Total Consolidated Assets
Graph: Percentage growth of consolidated assets of managed funds institutions.



Consolidated assets by types of asset

The asset types that increased were shares, $42.2b (9.0%); units in trusts, $39.4b (5.3%); overseas assets, $37.6b (7.7%); bonds, etc., $6.0b (6.2%); derivatives, $4.9b (14.5%); short term securities, $3.2b (3.7%); deposits, $2.8b (1.1%); other financial assets, $2.5b (1.0%); land, buildings and equipment, $2.4b (0.8%); loans and placements, $0.1b (0.3%). There was a decrease in other non-financial assets, $0.2b (1.7%).

Managed funds institutions, quarterly change in assets
Graph: Managed funds institutions, quarterly change in assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 31 March 2019, total unconsolidated assets of life insurance corporations were $238.7b, an increase of $9.1b (4.0%) on the December quarter 2018 figure of $229.5b.

Increases were recorded in units in trusts, $7.7b (5.3%); assets overseas, $0.7b (4.7%); bonds, etc., $0.5b (2.2%); shares, $0.4b (1.8%); derivatives, $0.3b (36.4%); short term securities, $0.1b (6.6%); land, buildings and equipment, $0.1b (340.0%). These were partially offset by decreases in deposits, $0.6b (8.9%); loans and placements, $0.1b (2.1%). Other financial assets, other non-financial assets were flat.

Cross investment within life insurance corporations was $5.3b which was flat compared to the December quarter 2018.

Net policy liabilities were $185.0b, an increase of $7.7b (4.4%) compared to the December quarter 2018.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 31 March 2019, total unconsolidated assets of superannuation funds were $2,809.4b, an increase of $149.0b (5.6%) on the December quarter 2018 figure of $2,660.4b.

Increases were recorded in units in trusts, $52.6b (5.8%); shares, $38.5b (9.2%); assets overseas, $35.1b (8.2%); net equity of pension funds in life office reserves, $5.1b (4.1%); bonds, etc., $5.1b (8.1%); derivatives, $4.3b (14.0%); deposits, $3.7b (1.6%); other financial assets, $2.1b (0.9%); land, buildings and equipment, $1.5b (1.0%); short term securities, $1.1b (2.1%). Loans and placements, other non-financial assets were flat.

Superannuation (Pension) Funds
Graph: Superannuation (Pension) Funds



Public offer (retail) unit trusts

At 31 March 2019, total unconsolidated assets of public offer (retail) unit trusts were $381.0b, an increase of $9.7b (2.6%) on the December quarter 2018 figure of $371.4b.

Increases were recorded in units in trusts, $3.4b (3.9%); shares, $3.0b (8.7%); assets overseas, $1.9b (4.1%); land, buildings and equipment, $0.8b (0.6%); other financial assets, $0.4b (6.2%); derivatives, $0.3b (12.3%); bonds, etc., $0.3b (3.3%); loans and placements, $0.2b (0.6%). These were partially offset by decreases in deposits, $0.4b (4.7%); other non-financial assets, $0.1b (2.6%); short term securities, $0.1b (2.6%).

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 31 March 2019, total unconsolidated assets of friendly societies were $7.4b, an increase of $0.2b (2.9%) on the December quarter 2018 figure of $7.2b.

Friendly Societies
Graph: Friendly Societies



Common funds

At 31 March 2019, total unconsolidated assets of common funds were $11.2b, an increase of $0.3b (3.0%) on the December quarter 2018 figure of $10.8b.

Common Funds
Graph: Common Funds



Cash management trusts

At 31 March 2019, total unconsolidated assets of cash management trusts were $40.2b, an increase of $2.3b (6.0%) on the December quarter 2018 figure of $37.9b.

Increases were recorded in short term securities, $1.9b (7.6%); deposits, $0.2b (1.7%); bonds, etc., $0.1b (3.1%); equities, $0.1b (6.5%). Smaller increases were also recorded in other financial assets, $0.05b (69.6%), and assets overseas, $0.03b (70.7%).

Cross investment within cash management trusts was $1.3b, an increase of $0.1b (6.5%) compared to the December quarter 2018.

Cash Management Trusts
Graph: Cash Management Trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 31 March 2019, total funds under management were $2,203.4b, an increase of $122.0b (5.9%) on the December quarter 2018 figure of $2,081.4b.

Funds under management on behalf of superannuation funds increased $76.2b (6.7%), life insurance corporations increased $5.5b (4.0%), public offer (retail) unit trusts increased $4.2b (3.2%), and cash management trusts increased $1.0b (4.4%).

At 31 March 2019, the value of funds under management on behalf of sources other than managed funds was $555.6b, an increase of $27.9b (5.3%) on the December quarter 2018 figure of $527.7b.

Increases were recorded in funds under management on behalf of wholesale financial trusts, $13.0b (6.1%); national government, $5.5b (5.2%); non-government trading corporations, $3.1b (8.3%); government compensation schemes, $2.0b (7.8%); state and local government, $1.5b (3.3%); general insurance, $1.4b (3.6%); other sources, $0.9b (1.8%); other investment managers, $0.4b (3.6%); charities, $0.1b (10.2%).

The value of funds under management on behalf of overseas sources at 31 March 2019 was $126.4b, an increase of $7.0b (5.9%) on the December quarter 2018 figure of $119.4b.

Assets of Managed Funds - March Quarter 2019

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

March Quarter 2019
Life insurance corporations
145 023
93 650
238 673
Superannuation (pension) funds
1 211 872
1 597 515
2 809 387
Public offer (retail) unit trusts
137 686
243 329
381 015
Friendly societies
np
np
7 434
Common funds
np
np
11 173
Cash management trusts
22 921
17 240
40 161
Total
1 521 383
1 966 460
3 487 843

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