5655.0 - Managed Funds, Australia, Jun 2013  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 29/08/2013   
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ANALYSIS


MANAGED FUNDS INDUSTRY

At 30 June 2013, the managed funds industry had $2,130.4b funds under management, an increase of $33.3b (2%) on the March quarter 2013 figure of $2,097.0b. Increases were recorded in consolidated assets of managed funds institutions, $31.3b (2%); funds managed by Australian investment managers on behalf of Australian entities other than managed funds institutions, $1.2b (0%); and funds managed by Australian investment managers on behalf of overseas investors, $0.8b (1%).

The following diagram shows the values of the Total Managed Funds Industry at 30 June 2013 and the relationships between the components of this industry:

Diagram: Managed funds industry


MANAGED FUNDS INSTITUTIONS

Consolidated assets of managed funds institutions

At 30 June 2013, the consolidated assets of managed funds institutions were $1,698.9b, an increase of $31.3b (2%) on the March quarter 2013 figure of $1,667.7b.

Total Consolidated Assets
Graph: Total Consolidated Assets



Consolidated assets by types of asset

The asset types that increased were overseas assets, $20.9b (7%); deposits, $7.6b (3%); other financial assets, $4.2b (14%); units in trusts, $3.6b (2%); land, buildings and equipment, $3.3b (2%); short term securities, $1.3b (1%); and derivatives, $0.3b (20%).

These were partially offset by decreases in shares, $8.7b (2%); other non-financial assets, $0.6b (3%); and loans and placements, $0.6b (2%). Bonds, etc. were flat.

The following chart shows the levels of the asset types of managed funds institutions at 30 June 2013.

Managed Funds Institutions Assets
Graph: Managed funds institutions assets



UNCONSOLIDATED ASSETS

Life insurance corporations

At 30 June 2013, total unconsolidated assets of life insurance corporations were $255.1b, an increase of $3.1b (1%) on the March quarter 2013 figure of $252.0b.

Increases were recorded in units in trusts, $4.6b (3%); deposits, $0.7b (6%); bonds, etc., $0.3b (1%); short term securities, $0.1b (3%); and derivatives, $0.1b (31%).

These were partially offset by decreases in assets overseas, $1.6b (9%); shares, $0.8b (4%); loans and placements, $0.2b (10%); other financial assets, $0.1b (3%); and other non-financial assets, $0.1b (2%). Land, buildings and equipment were flat.

Cross investment within life insurance corporations was $1.9b which was flat compared to the March quarter 2013.

Net policy liabilities was $218.3b, an increase of $2.9b (1%) on the previous quarter.

Life Insurance Corporations
Graph: Life Insurance Corporations



Superannuation (pension) funds

At 30 June 2013, total unconsolidated assets of superannuation (pension) funds were $1,562.3b, an increase of $31.5b (2%) on the March quarter 2013 figure of $1,530.8b.

Increases were recorded in assets overseas, $19.6b (8%); deposits, $7.2b (3%); short term securities, $3.1b (4%); other financial assets, $2.7b (15%); units in trusts, $2.2b (1%); net equity of pension funds in life office reserves, $2.1b (1%); land, buildings and equipment, $1.7b (2%); and loans and placements, $0.1b (1%).

These were partially offset by decreases in shares, $7.2b (2%); and bonds, etc., $0.1b (0%). Other non-financial assets and derivatives were flat.

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



Public offer (retail) unit trusts

At 30 June 2013, total unconsolidated assets of public offer (retail) unit trusts were $271.4b, an increase of $2.8b (1%) on the March quarter 2013 figure of $268.6b.

Increases were recorded in assets overseas, $2.8b (10%); land, buildings and equipment, $1.6b (2%); other financial assets, $1.0b (14%); short term securities, $0.2b (9%); derivatives, $0.2b (15%); other non-financial assets, $0.1b (1%); and bonds, etc., $0.1b (2%).

These were partially offset by decreases in units in trusts, $1.1b (2%); shares, $0.9b (3%); loans and placements, $0.8b (4%); and deposits, $0.4b (10%).

Cross investment within public offer (retail) unit trusts was $28.5b, a decrease of $0.7b (2%) compared to the March quarter 2013.

Public Offer Unit Trusts
Graph: Public Offer Unit Trusts



Friendly societies

At 30 June 2013, total unconsolidated assets of friendly societies were $6.0b which was flat compared to the March quarter 2013 figure.

Friendly Societies
Graph: Friendly societies



Common funds

At 30 June 2013, total unconsolidated assets of common funds were $7.7b, an increase of $0.1b (2%) on the March quarter 2013 figure of $7.6b.

Common Funds
Graph: Common funds



Cash management trusts

At 30 June 2013, total unconsolidated assets of cash management trusts were $25.8b, a decrease of $2.2b (8%) on the March quarter 2013 figure of $28.0b.

Decreases were recorded in short term securities, $1.3b (8%); equities, $0.5b (35%); deposits, $0.2b (2%); bonds, etc., $0.2b (15%). Derivatives, loans and placements, non-financial assets, and other financial assets were flat.

Cross investment within cash management trusts was $0.9b, a decrease of $0.5b (35%) compared to the March quarter 2013.

Cash Management Trusts
Graph: Cash management trusts



RESIDENT INVESTMENT MANAGERS

Source of funds under management

At 30 June 2013, total funds under management were $1,366.2b, an increase of $7.0b (1%) on the March quarter 2013 figure of $1,359.2b.

Funds under management on behalf of superannuation funds increased $8.1b (1%). Public offer (retail) unit trusts decreased $2.0b (2%); cash management trusts decreased $0.8b (5%); and life insurance corporations decreased $0.2b (0%). Common funds and friendly societies were flat.

At 30 June 2013, the value of funds under management on behalf of sources other than managed funds institutions was $366.6b, an increase of $1.2b (0%) on the March quarter 2013 figure of $365.4b.

Increases were recorded in funds under management on behalf of national government, $2.1b (4%); wholesale financial trusts, $0.4b (0%); and government compensation schemes, $0.1b (1%). These were partially offset by decreases in state and local government, $0.6b (1%); general insurance corporations, $0.6b (1%); other sources, $0.2b (1%); non-government trading corporations, $0.1b (0%); and other investment managers, $0.1b (1%). Charities were flat.

The value of funds under management on behalf of overseas sources at 30 June 2013 was $74.1b, an increase of $0.8b (1%) on the March quarter 2013 figure of $73.3b.

Assets of Managed Funds, at 30 June 2013

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

Life insurance corporations
160 865
94 241
255 106
Superannuation (pension) funds
629 356
932 964
1 562 320
Public offer (retail) unit trusts
113 486
157 917
271 403
Friendly societies
1 105
4 860
5 965
Common funds
4 037
3 662
7 699
Cash management trusts
16 707
9 076
25 783
Total
925 556
1 202 720
2 128 275