5655.0 - Managed Funds, Australia, Sep 2017  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/12/2017   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 September 2017, the managed funds industry had $3,270.3b funds under management, an increase of $39.0b (1%) on the June quarter 2017 figure of $3,231.3b. Increases were recorded in consolidated assets of managed funds institutions, $26.8b (1%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $9.2b (2%); and funds managed by Australian investment managers on behalf of overseas investors, $4.2b (4%).

The following diagram shows the total value of the managed funds industry at 30 September 2017 and the relationship between the various components of the industry:

Diagram showing the total value of the managed funds industry at 30 September 2017 and the relationship between the various components of the industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 September 2017, the consolidated assets of managed funds institutions were $2,663.6b, an increase of $26.8b (1%) on the June quarter 2017 figure of $2,636.8b.

Total Consolidated Assets
Graph: This graph shows the percentage growth of consolidated assets of managed funds institutions.



Consolidated assets by types of asset

The asset types that increased were overseas assets, $23.0b (6%); units in trusts, $9.4b (1%); shares, $9.3b (2%); land, buildings and equipment, $6.6b (2%); bonds, etc., $1.8b (2%); short term securities, $1.0b (1%); and other non-financial assets, $0.5b (5%). These were partially offset by decreases in deposits, $13.6b (5%); derivatives, $8.9b (21%); other financial assets, $2.4b (1%); and loans and placements, $0.1b (0%).

Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 September 2017, total unconsolidated assets of life insurance corporations were $237.7b, a decrease of $0.7b (0%) on the June quarter 2017 figure of $238.4b.

Decreases were recorded in units in trusts, $1.9b (1%); other non-financial assets, $0.3b (7%); derivatives, $0.2b (27%); and short term securities, $0.1b (5%). These were partially offset by increases in other financial assets, $0.7b (9%); assets overseas, $0.4b (3%); bonds, etc., $0.3b (2%); deposits, $0.3b (4%); loans and placements, $0.1b (3%); and shares, $0.1b (0%). Land, buildings and equipment were flat.

Net policy liabilities were $183.6b, a $0.1b (0%) decrease on June quarter 2017.


Superannuation (pension) funds

At 30 September 2017, total unconsolidated assets of superannuation funds were $2,577.9b, an increase of $30.8b (1%) on the June quarter 2017 figure of $2,547.1b.

Increases were recorded in assets overseas, $22.0b (6%); units in trusts, $14.7b (2%); shares, $8.9b (2%); land, buildings and equipment, $4.1b (3%); short term securities, $2.9b (5%); bonds, etc., $0.8b (2%); net equity of pension funds in life office reserves, $0.1b (0%); and other non-financial assets, $0.1b (6%). These were partially offset by decreases in deposits, $12.6b (5%); derivatives, $8.6b (22%); and other financial assets, $1.7b (1%). Loans and placements were flat.

Superannuation (Pension) funds
Graph: This graph shows the percentage growth of superannuation (pension) funds' assets.



Public offer (retail) unit trusts

At 30 September 2017, total unconsolidated assets of public offer (retail) unit trusts were $342.7b, an increase of $4.8b (1%) on the June quarter 2017 figure of $337.9b.

Increases were recorded in land, buildings and equipment, $2.5b (2%); units in trusts, $1.9b (2%); other non-financial assets, $0.7b (16%); assets overseas, $0.5b (1%); shares, $0.3b (1%); bonds, etc., $0.2b (2%); and short term securities, $0.1b (5%). These were partially offset by decreases in other financial assets, $0.8b (16%); loans and placements, $0.3b (1%); deposits, $0.3b (3%); and derivatives, $0.1b (4%).

Cross investment within public offer (retail) unit trusts was $33.0b, an increase of $0.3b (1%) compared to the June quarter 2017.

Public Offer Unit Trusts
Graph: This graph shows the percentage growth of public offer unit trusts' assets.



Friendly societies

At 30 September 2017, total unconsolidated assets of friendly societies were $7.1b which was flat on the June quarter 2017 figure of $7.1b.

Friendly societies
Graph: This graph shows the percentage growth of friendly societies' assets.



Common funds

At 30 September 2017, total unconsolidated assets of common funds were $10.5b, an increase of $0.3b (3%) on the June quarter 2017 figure of $10.2b.

Common funds
Graph: This graph shows the percentage growth of common funds' assets.



Cash management trusts

At 30 September 2017, total unconsolidated assets of cash management trusts were $37.0b, a decrease of $2.3b (6%) on the June quarter 2017 figure of $39.3b.

Decreases were recorded in short term securities, $2.0b (8%); deposits, $1.1b (11%); and other financial assets, $0.1b (86%). These were partially offset by increases in bonds, etc., $0.7b (25%) and equities, $0.2b (35%). Loans and placements, non-financial assets, derivatives and assets overseas were flat.

Cross investment within cash management trusts was $0.9b, an increase of $0.2b (38%) compared to the June quarter 2017.

Cash management trusts
Graph: This graph shows the percentage growth of cash management trusts' assets.



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 September 2017, total funds under management were $1,991.7b, an increase of $35.1b (2%) on the June quarter 2017 figure of $1,956.6b.

Funds under management on behalf of superannuation funds increased $22.4b (2%) and cash management trusts increased $0.1b (0%). Life insurance corporations decreased $0.7b (0%) and public offer (retail) unit trusts decreased $0.2b (0%).

At 30 September 2017, the value of funds under management on behalf of sources other than managed funds was $509.8b, an increase of $9.2b (2%) on the June quarter 2017 figure of $500.6b.

Increases were recorded in funds under management of behalf of wholesale financial trusts, $5.4b (3%); other sources, $1.9b (5%); government compensation schemes, $1.6b (7%); other investment managers, $1.1b (11%); and national government, $0.4b (0%). These were partially offset by decreases in non-government trading corporations, $0.7b (2%); state and local government, $0.4b (1%); and general insurance, $0.2b (0%). Charities were flat.

The value of funds under management on behalf of overseas sources at 30 September 2017 was $108.5b, an increase of $4.2b (4%) on the June quarter 2017 figure of $104.3b.

Assets of Managed Funds, at 30 September 2017

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

Life insurance corporations
162 387
75 341
237 728
Superannuation (pension) funds
1 049 972
1 527 922
2 577 893
Public offer (retail) unit trusts
134 497
208 243
342 740
Friendly societies
np
np
7 137
Common funds
np
np
10 473
Cash management trusts
19 746
17 271
37 017
Total
1 373 411
1 839 578
3 212 988

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