POWERED BY MOMENTUM MEDIA
Industry super funds collect more in March
Industry super funds collected more contributions than public sector funds this quarter, although both took the lion’s share over corporate funds, according to the Australian Prudential Regulation Authority’s Quarterly Superannuation Performance to the end of March 2012.
Industry funds received 32.6 per cent of total funds during the March quarter, accounting for $6.6 billion. Public sector funds took 32.1 per cent, or $6.5 billion, while corporate funds collected $872 million amounting to 4.3 per cent.
The total estimated assets of industry super funds increased by 7.3 per cent or $17.9 billion to $264.5 billion, public sector assets by 6.3 per cent and retail funds’ assets by 5.2 per cent.
Employers contributed $16.9 billion and members $3.1 billion towards the total contributions to funds with at least $50 million in assets over the March quarter. Spouse, government and other contributions totalled $137 million.
March brought more outward rollovers than inward rollovers, with negative net rollovers for industry funds sitting at $17 million, $342 million for corporate funds, $698 million for public sector and $839 million for retail funds.
The combined rate of return for the quarter was 5.4 per cent, with funds’ returns varying by a maximum of 0.2 per cent.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
