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Superannuation assets rise 15.5% to $1.62 trillion

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.

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Motley Fool contributor Tim McArthur owns shares in Perpetual.

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