The Australian superannuation industry has been experiencing the greatest period of asset growth ever, with superannuation assets now passing the $800 billion mark.

Total super assets rose during the December 2005 quarter by 4.1% to $844.6 billion, according to the Australian Prudential Regulation Authority’s (APRA) Quarterly Superannuation Performance publication.

Industry funds showed the strongest growth during the quarter, with assets increasing by 5.9% ($7.6 billion) to $137.2 billion. Retail fund assets grew by 4.4% ($11.4 billion) to $271.5 billion during the period, and public sector fund assets grew by 3.9% ($5.3 billion) to stand at $141.9 billion.

Self-managed super funds increased by 3.8% ($7 billion) to $190.3 billion and corporate fund assets grew by 2.3% ($1.2 billion) to $55.8 billion.

At the start of the year 29.7% of superannuation assets ($178.2 billion) were invested in wholesale trusts and 23.9% ($143.3 billion) in life insurance companies.