Australia’s managed funds industry grew 9.2 per cent during the last financial year, new data has revealed.
At 30 June 2017, the industry had $2.97 trillion of funds under management, according to the Australian Bureau of Statistics.
That was 2.7 per cent higher than the March 2017 figure of $2.89 trillion and 9.2 per cent higher than the June 2016 figure of $2.72 trillion.
In historical terms, funds under management have grown:
- 56.1 per cent over five years
- 66.5 per cent over 10 years
- 270.7 per cent over 15 years
- 550.9 per cent over 20 years
How are the funds invested?
Most of the money is invested in superannuation funds, according to this breakdown of unconsolidated assets of managed funds:
|Superannuation (pension) funds||79.2%|
|Public offer (retail) unit trusts||11.2%|
|Life insurance corporations||7.9%|
|Cash management trusts||1.2%|