Industry super fund assets balloon past $1 trillion

The Australian Prudential Regulatory Authority (APRA) has released its Quarterly superannuation performance statistics highlights for the March quarter.

This report shows that total superannuation assets rose by 9.7% in the year to March, to $3.44 trillion:

Total superannuation assets

Part of the increase in superannuation assets was caused by rising contributions, which totalled $141.6 – an increase of 16.9% for the year ending March 2022. These inflows far outweighed benefit payments, which totalled $83.9 billion – down 23.8% for the year ending March 2022:

Super contributions

industry super funds’ assets under management rose by 13.4 per cent to a record $1.1trn. This was primarily due to the creation of the Australian Retirement Trust; the new industry fund saw Sunsuper merge with the public-sector fund QSuper. This in turn saw public-sector funds’ assets under management fall by 23 per cent to $488bn.

Industry super funds’ assets under management rose by 13.4% to a record high $1.1 trillion. This was primarily due to the creation of the Australian Retirement Trust – a new industry fund that saw Sunsuper merge with the public-sector fund QSuper. This, in turn, saw public-sector funds’ assets under management fall by 23% to $488 billion.

The creation of Australian Retirement Trust – Australia’s second-largest super fund – means that industry funds now manage almost one in every three dollars in Australia’s superannuation system.

Unconventional Economist
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Comments

  1. Industry super fund assets balloon past $1 trillion

    1) Considering their proliferation in investing in commercial property, and;
    2) The begging of getting office workers away from WFH; and
    3) Industry funds continued behaviour of NOT marking to market to factor into account things like 2)….

    They can say whatever number they want…. why not $60 gajillion…

    • happy valleyMEMBER

      Nonetheless, industry super fund hater extraordinaire LP Senator Andrew Bragg would be apoplectic at that news and now that he is in the Opposition, there’s SFA he can do about it.

  2. I recently read the world is influenced by 3 companies- Blackstone, Vanguard n 1st state (?) And the LNP is apoplectic at our minor lot.

  3. Thats a good thing. Most European Democracies are virtually completely unfunded. Each generation reliant on taxes from the next. Problem is, no one is having kids and its turned out to be a Ponzi scheme!

    We are the lucky country – either that, we had some clever politicians previously.

    • I reckon there is an upside- China supply boost, US inventory cliff – deflation. Increased divvys here from gas, coal, Li, Co, ag commodities. Then there’ll be a (ka)boom in military manufacturing!

  4. Speaking of Super, I’m now negative since inception with MB – and that’s with an incorrectly set conservative setting and including contributions.
    How you lose 15% on government bonds in an ‘actively managed’ account when cash is an option I don’t know.

    Not very impressed.