5655.0 - Managed Funds, Australia, March 2012  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/05/2012   
   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 2012 the managed funds industry had $1,869.5b funds under management, an increase of $84.9b (5%) from the December quarter 2011 figure of $1,784.6b. This increase was primarily driven by valuation changes. Increases were recorded in the consolidated assets of managed funds institutions, $67.2b (5%). Increases were recorded in funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $15.8b (5%); and in funds managed by Australian investment managers on behalf of overseas investors, $3.3b (5%).

The following diagram shows the values of the Total Managed Funds Industry At 31 March 2012 and the relationships between the components of this industry.

Diagram: Managed funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 31 March 2012 the consolidated assets of managed funds institutions was $1,475.8b, an increase of $67.2b (5%) on the December quarter 2011 figure of $1,408.6b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types to increase during the quarter were shares, $28.5b (7%); overseas assets, $15.9b (7%); deposits, $10.8b (6%); units in trusts, $5.4b (3%); bonds, etc., $4.1b (6%); short term securities, $2.4b (3%); land, buildings and equipment, $1.5b (1%); and loans and placements, $0.5b (1%). These were partially offset by decreases in other non-financial assets, $1.2b (6%); and derivatives, $0.4b (20%). Other financial assets was flat.

The following chart shows the level at 31 March 2012 of the asset types of managed funds institutions.

Managed funds institutions assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 31 March 2012, total unconsolidated assets of life insurance corporations were $238.3b, an increase of $10.5b (5%) on the December quarter 2011 figure of $227.8b.

The increases were in units in trusts $4.1b (3%); shares, $2.4b (14%); bonds, etc., $2.4b (13%); loans and placements, $0.7b (32%); assets overseas $0.7b (5%); short term securities, $0.4b (5%); and deposits, $0.4b (4%).

These were partially offset by decreases in derivatives $0.2b (37%); other non-financial assets, $0.2b (6%); and other financial assets $0.2b (4%). Land, buildings and equipment was flat.

Cross investment within life insurance corporations was $2.5b, an increase of $0.5b (24%) over the previous quarter.

Net policy liabilities increased $7.4b (4%) to $204.0b.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 31 March 2012, total unconsolidated assets of superannuation funds were $1,327.1b, an increase of $72.0b (6%) on the December quarter 2011 figure of $1,255.1b.

The increases were in shares, $25.0b (7%); assets overseas, $15.2b (8%); deposits, $10.2b (6%); units in trusts, $9.4b (6%); net equity of pension funds in life office reserves, $6.9b (4%); short term securities, $1.9b (3%); land, buildings and equipment, $1.8b (2%); and derivatives, $1.3b (10%); and bonds etc., $0.9b (2%).

These were partially offset by a decrease in other financial assets, $0.9b (4%).

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



Public offer (retail) unit trusts

At 31 March 2012, total unconsolidated assets of public offer (retail) unit trusts were $263.5b, an increase of $3.0b (1%) on the December quarter 2011 figure of $260.5b.

The increases were in units in trusts, $3.6b (6%); shares, $1.6b (5%); bonds etc., $0.4b (9%); and short term securities, $0.3b (11%).

These were partially offset by decreases in other financial assets, $2.1b (21%); loans and placements $0.5b (3%); deposits, $0.4b (8%); land, buildings and equipment, $0.3b (0%) and derivatives, $0.2b (14%).

Cross investment within public offer (retail) unit trusts was $30.4b, an increase of $1.5b (5%) on the previous quarter.

Investor funds increased $7.9b (4%) to $206.1b; debt securities issued increased $1.4b (17%) to $9.4b; while loans and placements decreased $1.9b (6%) to $29.7b and other liabilities decreased $4.3b (19%) to $18.2b.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 31 March 2012, total unconsolidated assets of friendly societies were $6.1b, an increase of $0.1b (1%) on the previous quarter.

Friendly societies
Graph: Friendly societies



Common funds

At 31 March 2012, total unconsolidated assets of common funds were $8.1b, an increase of $0.1b (1%) on the previous quarter.

Common funds
Graph: Common funds



Cash management trusts

At 31 March 2012, the total unconsolidated assets of cash management trusts were $24.5b, an increase of $0.8b (3%) on the December quarter 2011 figure of $23.7b.

The increases were deposits, $0.5b (10%) and bonds, etc., $0.5b (42%). These were partially offset by a decrease in units in trusts, $0.1b (7%).

Cross investment within cash management trusts was $1.3b at 31 March 2012, down $0.1b (7%) on the previous quarter. Investor funds increased $0.8b (3%) to $24.4b.

Cash management trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 31 March 2012, total funds under management was $1,245.9b, an increase of $58.7b (5%) on the December quarter 2011 figure of $1,187.2b.

At 31 March 2012, the value of funds under management on behalf of managed funds institutions was $843.6b, an increase of $39.6b (5%) on the December quarter 2011 figure of $804.0b. Increases were recorded in the value of superannuation funds, $33.5b (7%); public offer (retail) unit trusts, $5.8b (5%); and cash management trusts, $0.2b (1%). Common funds, friendly societies and life insurance corporations were flat.

At 31 March 2012, the value of funds under management on behalf of sources other than managed funds was $333.9b, an increase of $15.8b (5%) on the December quarter 2011 figure of $318.2b. Increases were recorded in funds under management on behalf of wholesale financial trusts, $7.7b (6%); state and local government, $2.2b (5%); other sources, $1.6b (7%); non-government trading corporations, $1.5b (8%); other investment managers, $1.4b (20%); national government, $0.6b (1%); general insurance, $0.5b (1%); and government compensation schemes $0.1b (1%). Charities was flat.

The value of funds under management on behalf of overseas sources at 31 March 2012 was $68.3b, an increase of $3.3b (5%) on the December quarter 2011 figure of $65.0b.

Assets of managed funds, at 31 March 2012

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

Life insurance corporations
161 846
76 438
238 284
Superannuation funds
542 605
784 485
1 327 090
Public offer unit trusts
117 167
146 336
263 503
Friendly societies
1 157
4 958
6 115
Common funds
4 093
4 006
8 099
Cash management trusts
16 742
7 800
24 542
Total
843 610
1 024 023
1 867 633