Super assets continue to climb

Superannuation assets increased by 13.5 per cent in the 12 months to March 2013, according to the Australian Prudential Regulation Authority's (APRA's) latest data.

Total estimated super assets, including self-managed super funds and life office statutory funds, rose by $187.8 billion (13.5 per cent) to $1.58 trillion, with $68.4 billion (a 4.5 per cent increase) collected over the March 2013 quarter.

Industry fund assets grew by 5.7 per cent ($16.7 billion) to $311.4 billion, corporate funds by 4.3 per cent ($2.5 billion) to $60.3 billion, public sector funds by 4.3 per cent ($10.3 billion) to $247.2 billion and retail funds by 4.2 per cent ($16.9 billion) to $415 billion.

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Over $20 billion was invested in funds with over $50 million in assets during the March quarter. Employers put in $16.9 billion while members contributed $3.8 billion. Government co-contributions and other contributions totalled $132 million.

Over the March quarter, industry funds received 33.1 per cent ($6.9 billion) of total contributions, public sector funds 32.7 per cent ($6.8 billion), retail funds 30.4 per cent ($6.3 billion) and corporate funds 3.8 per cent ($0.8 billion).

Funds with over $50 billion in assets achieved an annual rate of return of 10.2 per cent up to March 2013 and 4.1 per cent for the quarter.

Chant West's latest superannuation statistics showed super funds are inching closer to their highest returning year in 15 years."

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