The Australian Prudential Regulation Authority (APRA) last week released its June quarter superannuation statistics. For the 12 months ending 30 June 2013 APRA estimates that total superannuation assets rose by $217.2 billion or 15.5% to $1.62 trillion.
In terms of allocations, APRA estimated that at 30 June public sector funds held $356.8 billion, industry funds $323.2 billion, corporate funds $61.7 billion and retail funds $422.4 billion.
For investors in listed fund managers such as AMP (ASX: AMP) or Perpetual (ASX: PPT), APRA's latest statistics provide a mixed message. On the one hand there appears to be a trend towards industry funds with the estimated growth in industry fund assets at 3.8% far outstripping the growth in retail funs assets of just 1.8%. A shift to industry funds is not great news for external fund managers as many industry funds are increasingly recruiting and building their own in-house investment management teams in an attempt to cut costs and lower fees for their members.
However on the other hand the last quarter saw retail funds receive 34.4% of total contributions. This was greater than the 32.9% received by industry funds and is a reminder to investors that there is room for a number of players within this growing industry.
Building your own nest egg? Discover The Motley Fool's favourite income idea for 2013-2014 in our brand-new, FREE research report, including a full investment analysis! Simply click here for your FREE copy of "The Motley Fool's Top Dividend Stock for 2013-2014."
More reading
Motley Fool contributor Tim McArthur owns shares in Perpetual.
