Australia Releases March 2010 Quarterly Superannuation Performance
The Australian Prudential Regulation Authority (APRA) today released its March 2010 Quarterly Superannuation Performance publication.
It shows that total estimated assets grew over the quarter by $31.8 billion, or 2.6 per cent, to a total of $1.26 trillion.
Over the March quarter, the assets of industry funds grew by 3.6 per cent ($7.8 billion) to $226.6 billion, public sector funds by 2.7 per cent ($4.7 billion) to $177.4 billion, corporate funds by 1.7 per cent ($1.0 billion) to $60.9 billion and retail funds by 1.6 per cent ($5.5 billion) to $351.2 billion.
Contributions to funds with at least $50 million in assets were $17.8 billion over the March quarter, with employers contributing $14.5 billion and members contributing $3.2 billion. Other contributions, including spouse contributions and government co-contributions, totalled $151 million.
Over the March quarter, retail funds received 32.7 per cent ($5.8 billion) of total contributions, industry funds 32.2 per cent ($5.8 billion), public sector funds 29.4 per cent ($5.2 billion), and corporate funds 5.7 per cent ($1.0 billion).
The combined rate of return was 1.6 per cent for the March quarter. The rate of return for public sector funds was 1.9 per cent, corporate funds 1.8 per cent, industry funds 1.6 per cent and retail funds 1.3 per cent.
Copies of the March 2010 Quarterly Superannuation Performance publication are available on APRA’s website at: www.apra.gov.au/Statistics/Quarterly-Superannuation-Performance.cfm.
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry.
APRA is funded largely by the industries that it supervises. It was established on 1 July 1998.
APRA currently supervises institutions holding approximately $3.6 trillion in assets for 22 million Australian depositors, policyholders and superannuation fund members.
Topics: 2010, APRA, assets, Australia, Australian Prudential Regulation Authority, business, corporate funds, economic development, economic growth, Economy, employers, Governance, government, government contributions, industry funds, March, March 2010 Quarterly Superannuation Performance, moniter, monitor, news, public sector funds, retail funds, society, superannuation
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