AUSTRALIA - Superannuation assets increased by 3.3% to A$1.36trn (US$1.44trn) in the first quarter of 2011, the Australian Prudential Regulatory Authority (APRA) said.
Over the 12 months to March 2011 there was an 8.6% increase in total estimated assets, the Authority added. Industry funds' assets increased by 4.4% in Q1, while corporate funds' assets increased by...
AUSTRALIA - The wheels were finally set in motion to raise the contribution limit in Australia to 12% from 9% with the introduction of a new bill today.
AUSTRALIA - The A$73.2bn ($78.2bn) Future Fund lost 2.9% in the third quarter, though moves to decrease equity exposures helped stave off more drastic losses.
AUSTRALIA - The median balanced superannuation fund has fallen for the fifth consecutive month returning -1.8%, -4.9% for the September quarter and -3.8% for the past year, SuperRatings finds.
AUSTRALIA - The merger between the A$2.4bn (US$2.5bn) StatewideSuper and the A$1.7bn Local Super will move to the next stage, beginning the due diligence process following approval in principle from the funds' major shareholders.