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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.
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