Super assets continue to rise

cent australian prudential regulation authority self-managed super funds global financial crisis

22 November 2013
| By Staff |
image
image
expand image

Superannuation assets have jumped 17.2 per cent over the 12 months to September 2013, the Australian Prudential Regulation Authority reported.

Total estimated super assets, including assets of self-managed super funds and the balances of life office statutory funds, rose by $1.75 trillion at 30 September.

Total super assets increased by 5.7 per cent over the September quarter, after adjusting for changes in reporting requirements.

Contributions to funds with at least $50 million in assets over the September 2013 quarter were $21.5 billion. Total contributions for the year ending September were $90.3 billion, down 0.8 per cent from the previous year ($91 billion).

Outward rollovers outdid inward rollovers by $719 million in the September quarter. Total benefit payments for the year ending September rose 6.4 per cent to $51.7 billion from last year's $48.6 billion.

Net contribution flows (contributions plus net rollovers minus benefit payments) totalled $7.4 billion in the September quarter, while it was $32.6 billion for the year ending September, down 7.3 per cent from last year ($35.2 billion).

The annual industry-wide rate of return (ROR) for entities with assets over $50 million for the year ending 30 September was 14.6 per cent, while ROR was 4.7 per cent for assets over $50 million.

APRA recently released a discussion paper on the proposed changes to its ‘Quarterly Superannuation Performance Statistics' publication and introduction of a ‘Quarterly MySuper Statistics report'.

It will therefore release certain statistics on an interim basis for at least the September and December 2013 quarters until this consultation is completed.

SuperRatings research recently showed super funds are sitting at their highest rate of return since the global financial crisis, on par with 2005 levels.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

4 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 9 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 7 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 10 hours ago