APRA figures show = superannuation assets reach $1.1 trillion

Total superannuation assets in Australia reached $1.1 = trillion=20 during the March 2007 quarter according to figures released = today by=20 the Australian Prudential Regulation Authority (APRA).

APRA=92s Quarterly Superannuation Performance = publication=20 shows total superannuation assets rose during the quarter by = $44.7=20 billion, or 4.4 per cent, to $1.1 trillion, which represents = a 17.1=20 per cent increase over the 12 months to March 2007.

Industry funds showed the strongest growth during the = quarter,=20 with assets increasing by 6.2 per cent ($10.6 billion) to = $182.7=20 billion. Public sector fund assets grew by 5.1 per cent = ($8.0=20 billion) to $165.8 billion, retail fund assets by 3.7 per = cent=20 ($12.4 billion) to $343.9 billion and corporate fund assets = by 2.6=20 per cent ($1.7 billion) to $69.4 billion.

Contributions to funds with at least $50 million in = assets were=20 $20.7 billion over the March quarter, with employers = contributing=20 $13.2 billion (64.0 per cent) and members contributing $7.2 = billion.=20 Other contributions, including spouse contributions and = government=20 co-contributions, totalled $250 million. Retail funds = received 42.9=20 per cent ($8.9 billion) of total contributions over the = quarter,=20 industry funds 24.9 per cent ($5.1 billion), public sector = funds=20 28.1 per cent ($5.8 billion) and corporate funds 4.2 per = cent ($862=20 million).

At the end of March 2007, funds with at least $50 million = in=20 assets had 30.6 per cent of superannuation assets ($230.7 = billion)=20 invested in wholesale trusts and 22.1 per cent ($166.4 = billion)=20 invested in life insurance companies. Individually managed = mandates,=20 where asset portfolios are tailored for or chosen by the = trustee,=20 comprised 20.8 per cent ($156.7 billion) of superannuation = assets.=20 The remaining assets were invested in other categories = including=20 pooled superannuation trusts, unlisted public offer unit = trusts and=20 directly invested assets.

The combined return on assets was 2.7 per cent for the = March=20 quarter. The return for public sector funds was 3.1 per = cent,=20 corporate funds 3.0 per cent, industry funds 2.9 per cent = and retail=20 funds 2.3 per cent.

Copies of the March 2007 Quarterly Superannuation = Performance=20 publication are available on APRA's website at www.apra.gov.au/Statistics/Superannuation-Institutions-Stati= stics.cfm

The Australian Prudential Regulation Authority (APRA) = is the=20 prudential regulator of the financial services industry. It = oversees=20 banks, credit unions, building societies, general insurance = and=20 reinsurance companies, life insurance, friendly societies, = and most=20 members of the superannuation industry. APRA is funded = largely by=20 the industries that it supervises. It was established on 1 = July=20 1998. APRA currently supervises institutions holding = approximately=20 $2.5 trillion in assets for 20 million Australian = depositors,=20 policyholders and superannuation fund members.

Media and industry inquiries = only:
Andrew=20 McCutcheon, Public Affairs Manager
Australian Prudential=20 Regulation Authority
Telephone: 02 9210 3143
Mobile: = 0417 528=20 660

All other inquiries:
APRA Contact = Centre 1300=20 131 060