Superannuation assets totalled $2.6 trillion at the end of the December 2017 quarter. Over the 12 months from December 2016 there was a 10.1 per cent increase in total superannuation assets.
Total assets in MySuper products totalled $635.2 billion at the end of the December 2017 quarter. Over the 12 months from December 2016 there was a 19.0 per cent increase in total assets in MySuper products.
For APRA regulated funds:
There were $25.4 billion of contributions in the December 2017 quarter, down 2.2 per cent from the December 2016 quarter ($26.0 billion). Total contributions for the year ending December 2017 were $116.6 billion. Outward benefit transfers exceeded inward benefit transfers by $0.6 billion in the December 2017 quarter.
There were $16.6 billion in total benefit payments in the December 2017 quarter, an increase of 0.6 per cent from the December 2016 quarter ($16.5 billion). Total benefit payments for the year ending December 2017 were $74.2 billion. Lump sum benefit payments ($8.3 billion) were 49.8 er cent and pension benefit payments ($8.3 billion) were 50.2 per cent of total benefit payments in the December 2017 quarter. For the year ending December 2017, lump sum benefit payments ($38.5 billion) were 51.9 per cent and pension payments ($35.7 billion) were 48.1 per cent of total benefit payments.
Net contribution flows (contributions plus net benefit transfers less benefit payments) totalled $7.1 billion in the December 2017 quarter, a decrease of -10.6 per cent from the December 2016 quarter ($8.0 billion). Net contribution flows for the year ending December 2017 were $37.3 billion.
The annual industry-wide rate of return (ROR) for entities with more than four members for the year ending December 2017 was 8.8 per cent. The five year average annualised ROR to December 2017 was 8.6 per cent.
The main valuation effects that occurred during the December quarter 2017 were as follows: the S&P/ASX 200 increased 6.7 per cent; the price of foreign shares, as represented by the MSCI World Index excluding Australia, increased 5.1 per cent; and the A$ depreciated 0.5 per cent against the US$.
Over the December 2017 quarter, total assets increased by 3.5 per cent (or $62.8 billion) to $1.8 trillion.
As at the end of the December 2017 quarter, 51.5 per cent of the $1.6 trillion investments were invested in equities; with 23.4 per cent in Australian listed equities, 23.9 per cent in international listed equities and 4.1 per cent in unlisted equities. Fixed income and cash investments accounted for 31.5 per cent of investments; 20.5 per cent in fixed income and 11.0 per cent in cash. Property and infrastructure accounted for 13.3 per cent of investments and 3.7 per cent were invested in other assets, including hedge funds and commodities.