The Australian Prudential Regulation Authority (APRA) has released its December 2012 Quarterly Superannuation Performance publication. The $1.5 trillion milestone has been reached officially.
Total estimated assets rose by $192.2 billion (14.6 per cent) to $1.51 trillion over the 12 months to 31 December 2012, taking into account an increase of $47.1 billion (3.2 per cent) in total assets over the December quarter.
Over the December quarter, the total estimated assets of industry funds increased by 4.8 per cent ($13.5 billion) to $294.7 billion, retail funds by 3.2 per cent ($12.3 billion) to $398.1 billion and public sector funds by 2.0 per cent ($4.6 billion) to $236.9 billion. Total assets of corporate funds decreased by 0.9 per cent ($0.5 billion) to $57.8 billion.
Contributions to funds with at least $50 million in assets over the December quarter were $21.9 billion, with employers contributing $17.9 billion and members contributing $3.6 billion. Other contributions, including spouse contributions and government co-contributions, totalled $357 million.