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ANALYSIS MANAGED FUNDS INSTITUTIONS Consolidated assets of managed funds institutions At 31 December 2017, the consolidated assets of managed funds institutions were $2,745.6b, an increase of $82.4b (3%) on the September quarter 2017 figure of $2,663.2b. Consolidated assets by types of asset The asset types that increased were shares, $34.6b (7%); units in trusts, $29.7b (4%); overseas assets, $17.3b (4%); land, buildings and equipment, $5.8b (2%); bonds, etc., $5.5b (7%); and deposits, $3.4b (1%). These were partially offset by decreases in short term securities, $6.4b (7%); other financial assets, $4.7b (2%); derivatives, $1.8b (6%); loans and placements, $0.7b (2%); and other non-financial assets, $0.4b (3%). UNCONSOLIDATED ASSETS Life insurance corporations At 31 December 2017, total unconsolidated assets of life insurance corporations were $242.1b, an increase of $3.8b (2%) on the September quarter 2017 figure of $238.3b. Increases were recorded in shares, $3.0b (14%); units in trusts, $2.0b (1%); assets overseas, $1.1b (8%); short term securities, $0.3b (12%); and derivatives, $0.1b (16%). These were partially offset by decreases in other financial assets, $1.8b (22%); loans and placements, $0.8b (16%); and other non-financial assets, $0.1b (1%). Land, buildings and equipment, bonds, etc., and deposits were flat. Net policy liabilities were $187.0b, an increase of $2.9b (2%) compared to the September quarter 2017. Superannuation (pension) funds At 31 December 2017, total unconsolidated assets of superannuation funds were $2,657.6b, an increase of $81.8b (3%) on the September quarter 2017 figure of $2,575.8b. Increases were recorded in units in trusts, $38.7b (4%); shares, $29.4b (7%); assets overseas, $14.9b (4%); bonds, etc., $4.5b (9%); deposits, $3.5b (1%); and net equity of pension funds in life office reserves, $2.0b (1%). These were partially offset by decreases in short term securities, $5.2b (8%); other financial assets, $3.5b (2%); derivatives, $2.1b (7%); loans and placements, $0.2b (3%); and other non-financial assets, $0.2b (8%). Land, buildings and equipment were flat. Public offer (retail) unit trusts At 31 December 2017, total unconsolidated assets of public offer (retail) unit trusts were $356.0b, an increase of $13.1b (4%) on the September quarter 2017 figure of $342.9b. Increases were recorded in land, buildings and equipment, $5.8b (4%); shares, $2.4b (7%); units in trusts, $2.1b (3%); assets overseas, $1.2b (4%); bonds, etc., $0.8b (10%); loans and placements, $0.6b (2%); other financial assets, $0.5b (12%); derivatives, $0.2b (9%); and short term securities, $0.1b (3%). These were partially offset by decreases in deposits, $0.4b (4%); and other non-financial assets, $0.1b (3%). Cross investment within public offer (retail) unit trusts was $33.2b, an increase of $0.4b (1%) compared to the September quarter 2017. Friendly societies At 31 December 2017, total unconsolidated assets of friendly societies were $7.3b, an increase of $0.1b (2%) on the September quarter 2017 figure of $7.1b. Common funds At 31 December 2017, total unconsolidated assets of common funds were $10.8b, an increase of $0.3b (3%) on the September quarter 2017 figure of $10.5b. Cash management trusts At 31 December 2017, total unconsolidated assets of cash management trusts were $35.7b, a decrease of $1.3b (4%) on the September quarter 2017 figure of $37.0b. Decreases were recorded in short term securities, $1.6b (7%); and equities, $0.2b (19%). These were partially offset by increases in deposits, $0.2b (3%); and bonds, etc., $0.2b (6%). Other financial assets, derivatives, loans and placements and non-financial assets were flat. Cross investment within cash management trusts was $0.7b, a decrease of $0.2b (21%) compared to the September quarter 2017. RESIDENT INVESTMENT MANAGERS Source of funds under management At 31 December 2017, total funds under management were $2,080.5b, an increase of $66.3b (3%) on the September quarter 2017 figure of $2,014.2b. Funds under management on behalf of superannuation funds increased $36.1b (3%), public offer (retail) unit trusts increased $2.8b (2%) and life insurance corporations increased $0.5b (0%). Cash management trusts decreased $0.6b (3%). At 31 December 2017, the value of funds under management on behalf of sources other than managed funds was $535.7b, an increase of $24.3b (5%) on the September quarter 2017 figure of $511.4b. Increases were recorded in funds under management of behalf of national government, $10.7b (13%); wholesale financial trusts, $5.8b (3%); non-government trading corporations, $3.1b (9%); government compensation schemes, $2.5b (11%); other sources, $1.4b (3%); state and local government, $0.7b (1%); and other investment managers, $0.4b (3%). These were partially offset by a decrease in general insurance, $0.4b (1%). Charities were flat. The value of funds under management on behalf of overseas sources at 31 December 2017 was $120.2b, an increase of $3.3b (3%) on the September quarter 2017 figure of $116.9b.
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