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:
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:
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.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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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…
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.
I recently read the world is influenced by 3 companies- Blackstone, Vanguard n 1st state (?) And the LNP is apoplectic at our minor lot.
yep, we’ll own nothing and be happy. I can’t wait.
Vanguard, Blackrock and State Street.
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.
And the cash keeps getting pumped into the piece of crap called the ASX.
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!
Any suggestions in military manufacturing?
Cheers
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.
Prefer those “contributions” in my wages tku…