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Australian Superannuation Figures Rise $94.1 Billion (7.7%) to a Total of $1.32 Trillion for 2010

Canberra, Australia (News4us.com) March 10, 2011

Superannuation Figures 2 Australian Superannuation Figures Rise $94.1 Billion (7.7%) to a Total of $1.32 Trillion for 2010

Australian Superannuation Figures Rise $94.1 Billion (7.7%) to a Total of $1.32 Trillion for 2010

The Australian Prudential Regulation Authority (APRA) today released its December 2010 Quarterly Superannuation Performance publication. Total assets over the 12 months to 31 December 2010 rose by $94.1 billion (7.7 per cent) to a total of $1.32 trillion, which includes a rise of $37.7 billion (3.0 per cent) during the December quarter.

During the December quarter assets of industry funds grew by 3.7 per cent ($8.9 billion) to $246.7 billion, corporate funds by 3.6 per cent ($2.1 billion) to $60.3 billion, public sector funds by 2.9 per cent ($5.2 billion) to $185.9 billion, and retail funds by 2.4 per cent ($8.6 billion) to $361.8 billion.

Industry funds received 32.9 per cent ($6.4 billion) of total contributions, retail funds 32.4 per cent ($6.3 billion), public sector funds 29.5 per cent ($5.7 billion), and corporate funds received 5.2 per cent ($1.0 billion).

Contributions to funds with at least $50 million in assets over the December quarter were $19.3 billion, with employers contributing $15.6 billion and members contributing $3.4 billion. Other contributions, including spouse contributions and government co-contributions, totalled $393 million.

The combined rate of return was 2.6 per cent for the December quarter. The rate of return for corporate funds was 3.0 per cent, industry funds 2.9 per cent, public sector funds 2.5 per cent and retail funds returned 2.4 per cent.

Copies of the December 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 $3.7 trillion in assets for 22 million Australian depositors, policyholders and superannuation fund members.


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