Growth in total superannuation assets slows in 2012

Increases in estimated total assets for the superannuation industry have contracted in the 2011-12 financial year, compared to last year according to the Australian Prudential Regulation Authority (APRA) which reported an increase of $49.6 billion for the year to 30 June 2012, compared to an increase of $131.5 billion in the 2010-11 financial year.

Total assets for the superannuation industry increased 0.3 per cent over the June quarter contributing to a 3.7 per cent rise in total estimated assets for the 2011-12 financial year.

Total estimated assets which included self-managed super funds and the balance of life office statutory funds increased to $1.40 trillion over the year to 30 June 2012, growing total superannuation assets by $0.66 trillion since 30 June 2011.

During the June quarter, public sector funds' assets increased by 1.9 per cent to $222.2 billion, industry funds increased 0.6 per cent to $266 billion, while retail funds and corporate funds' assets decreased by 1.3 per cent ($4.7 billion) and 2.0 per cent ($1.1 billion) respectively.

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Industry funds received $151 million of net rollovers in the June quarter, while corporate funds had negative net rollovers of $477 million, public sector reported negative rollovers of $728 million and retail funds had negative net rollovers of $762.

Outward rollovers exceeded inward rollovers over the year.

The annual industry-wide rate of return (ROR) for quarterly reporting funds was 0.4 per cent for the 2011-12 financial year, compared to 0.9 per cent for the 2010-11 financial year.

The quarterly RORs for each fund as a whole to 30 June 2012 were -0.9 per cent for public sector funds, -1.2 per cent for industry funds, -1.5 per cent for corporate funds and -1.8 per cent for retail funds.