5655.0 - Managed Funds, Australia, Mar 2007  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 30/05/2007   
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ANALYSIS


CONSOLIDATED ASSETS

By type of institution

At 31 March 2007, consolidated assets of superannuation funds were $629.1b, up $31.0b (5.2%) on the revised December 2006 figure. Consolidated assets of public unit trusts increased by $11.7b (4.8%). Consolidated assets of life insurance offices increased by $8.9b (4.3%), cash management trusts increased by $1.8b (4.7%), common funds increased by $0.2b (1.7%) and the assets of friendly societies decreased marginally on the December quarter 2006 figures.

Graph: Consolidated Assets, By type of institution


By type of asset

The asset movements for the quarter were equities and units in trusts, up $21.0b (4.9%), assets overseas, up $13.5b (5.7%), cash and deposits, up $6.2b (8.0%) land and buildings, up $5.8b (4.8%), short term securities, up $2.7b (3.1%), other assets, up $1.6b (4.9%), long term securities, up $1.4b (1.5%) and loans and placements, up $1.3b (4.9%).


Cross investment

The table below presents the unconsolidated, cross-invested and consolidated assets of managed funds by type of fund as at 31 March 2007.

Unconsolidated assets
Cross- invested assets
Consolidated assets
Type of fund
$m
$m
$m
Life insurance offices
256 695
39 876
216 819
Superannuation funds
840 585
211 509
629 076
Public unit trusts
288 899
32 865
256 034
Friendly societies
6 961
2 903
4 058
Common funds
11 148
725
10 424
Cash management trusts
40 815
-
40 815
Total
1 445 103
287 878
1 157 225
- nil or rounded to zero (including null cells)



UNCONSOLIDATED ASSETS

Life insurance offices

At 31 March 2007, the total assets of life insurance offices were $256.7b, an increase of $10.4b (4.2%) on the revised December 2006 figure of $246.3b. Increases were recorded in equities and units in trusts of $8.2b (4.7%), land and building of $1.0b (11.4%), long term securities of $0.7b (2.9%), short term securities of $0.5b (4.8%), assets overseas of $0.5b (3.7%) and loans and placements of $0.3b (9.5%). Partially offsetting this were decreases in other financial assets of $0.8b (-22.6%) and cash and deposits of $0.1b (-2.0%).

Graph: Unconsolidated Assets, Life insurance offices


Superannuation funds

The total assets of superannuation funds held outside of life offices was $840.6b at 31 March 2007, an increase of $42.6b (5.3%) on the revised December 2006 figure. Major increases were recorded in equities and units in trusts of $20.8b (5.1%) and assets overseas of $11.3b (6.6%). Increases were also recorded in cash and deposits of $5.1b (7.2%), land and buildings of $1.6b (4.4%), other financial assets of $1.5b (12.7%), long term securities of $1.1b (1.8%), short term securities of $0.8b (2.2%) and loans and placements of $0.4b (4.9%).

Graph: Unconsolidated Assets, Superannuation funds


Public unit trusts

The total assets of public unit trusts was $288.9b at 31 March 2007, up $11.2b (4.0%) on the revised December 2006 figure of $277.7b. Increases were recorded in equities and units in trusts, up $3.7b (3.4%), land and buildings, up $3.2b (4.2%), assets overseas, up $1.7b (3.3%), cash and deposits, up $1.1b (20.7%), other non-financial assets, up $0.6b (3.8%), loans and placements, up $0.5b (4.6%), other financial assets, up $0.3b ( 6.2%), long term securities, up $0.1b (10.7%).

Graph: Unconsolidated Assets, Public unit trusts


Friendly societies

Total assets of friendly societies was $7.0b at 31 March 2007, a marginal increase on the December quarter 2006 figure.

Graph: Unconsolidated Assets, Friendly societies


Common funds

Total assets of common funds was $11.1b at 31 March 2007, up $0.2b (2.0%) on the December quarter 2007 figure. The major increases were in cash and deposits, up $0.2b (9.0%), equities and units in trusts, up $0.1b (6.5%), loans and placements, up $0.1b (2.3%). These were partially offset by a decrease in short term securities of $0.2b (-4.8%).

Graph: Unconsolidated Assets, Common funds


Cash management trusts

Total assets of cash management trusts was $40.8b at 31 March 2007, up $1.8b (4.7%) on the December 2006 figure of $39.0b. Major increases were in short term securities of $1.6b (5.4%) and cash and deposits of $0.8b (18.0%). This was partially offset by a decrease in long term securities of $0.6b (-16.4%).

Graph: Unconsolidated Assets, Cash management trusts



INVESTMENT MANAGERS

Source of funds under management

During the March quarter 2007 there was an increase in total funds under management by investment managers of $42.9b (4.1%) on the revised December quarter figure, bringing the total funds under management to $1095.5b.


The value of funds under management on behalf of superannuation funds increased by $23.3b (5.3%), public unit trusts increased by $2.6b (2.1%), life insurance offices increased by $2.2b (1.5%) and cash management trusts increased by $1.6b (4.9%).


During the quarter the value of funds under management on behalf of sources other than managed funds increased $5.4b (2.1%). Of this, the largest increases were in funds under management on behalf of other trusts, up $6.3b (4.4%) and other sources, up $1.1b (3.2%). These were partially offset by a decrease in general insurance, down $1.3b (-4.4%) and other investment managers, down $1.2b (-4.3%)


The value of funds under management on behalf of overseas sources was $52.7b, an increase of $7.7b (17.2%) on the revised December 2006 quarter figure.


The value of managed funds assets invested through investment managers was $780.0b at 31 March 2007, representing 67.4% of the consolidated assets of managed funds.

Graph: Investment Managers, Source of funds under management