Superannuation assets totalled $2.9 trillion at the end of the June 2019 quarter. Over the 12 months from June 2018 there was a 6.7 per cent increase in total superannuation assets.
Total assets in MySuper products totalled $756 billion at the end of the June 2019 quarter. Over the 12 months from June 2018 there was a 11.6 per cent increase in total assets in MySuper products.
For APRA regulated funds:
There were $33.9 billion of contributions in the June 2019 quarter, up 3.6 per cent from the June 2018 quarter ($32.7 billion). Total contributions for the year ending June 2019 were $114.4 billion.
Inward benefit transfers exceeded outward benefit transfers by $2.6 billion in the June 2019 quarter.
There were $20.2 billion in total benefit payments in the June 2019 quarter, an increase of 6.6 per cent from the June 2018 quarter ($19.0 billion). Total benefit payments for the year ending June 2019 were $76.3 billion. Lump sum benefit payments ($10.3 billion) were 50.9 per cent and pension benefit payments ($9.9 billion) were 49.1 per cent of total benefit payments in the June 2019 quarter. For the year ending June 2019, lump sum benefit payments ($37.9 billion) were 49.6 per cent and pension payments ($38.5 billion) were 50.4 per cent of total benefit payments.
Net contribution flows (contributions plus net benefit transfers less benefit payments) totalled $15.6 billion in the June 2019 quarter, an increase of 18.8 per cent from the June 2018 quarter ($13.1 billion). Net contribution flows for the year ending June 2019 were $38.1 billion.
The annual industry-wide rate of return (ROR) for entities with more than four members for the year ending June 2019 was 7.3 per cent. The five year average annualised ROR to June 2019 also was 7.3 per cent.
Over the June 2019 quarter, total assets increased by 4.3 per cent (or $84.3 billion) to $2.1 trillion. There was a significant successor fund transfer in the quarter, with the industry fund and retail asset figures impacted by the transfer of accounts from StatePlus Retirement Fund to First State Super.
As at the end of the June 2019 quarter, 50.9 per cent of the $1.8 trillion investments were invested in equities; with 22.4 per cent in Australian listed equities, 24.4 per cent in international listed equities and 4.0 per cent in unlisted equities. Fixed income and cash investments accounted for 31.4 per cent of investments; 21.6 per cent in fixed income and 9.8 per cent in cash. Property and infrastructure accounted for 14.2 per cent of investments and 3.6 per cent were invested in other assets, including hedge funds and commodities.