Super assets grow 16.6 per cent in a year
Industry superannuation funds continue to be the fastest growing segment of the superannuation industry, according to the latest data released by the Australian Prudential Regulation Authority (APRA).
The APRA data, released late last week, revealed industry funds assets increased by 5 per cent in the September quarter of last year, compared to 4.2 per cent on the part of retail funds and 4.1 per cent on the part of public sector funds.
Corporate superannuation funds assets also increased, but at a more modest rate of 2.6 per cent.
The APRA data confirmed that while industry funds may be the fastest-growing segment, retail funds continued to dominate in terms of size, accounting for 32.4 per cent of total assets, followed by self-managed superannuation funds with 23.1 per cent of total assets.
The data revealed that total estimated superannuation assets increased by 3.4 per cent in the September quarter to $945.6 billion — a 16.6 per cent increase over the same quarter in 2005.
AUTHOR
Mike Taylor
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