Rainmaker publishes Australian investment market playbook

Yasmine Raso

Senior Journalist

23 April 2026

Rainmaker Information has released its Market Entry Report focused on the Australian investment management market, detailing the “size, structure and evolution” of the local wealth management scene and superannuation system.

Designed for both international and domestic fund managers looking to penetrate Australia’s “multi-trillion dollar wealth management market”, the report offers information on operating a managed investment scheme (MIS) across regulation, history, market size, key intermediaries and governance considerations.

It details the channels through which one can set up and operate an MIS – via superannuation funds at the institutional level or the intermediary space which includes financial advice firms, platforms and managed accounts.

The report comes as internationally-based investment managers already make up 44.9 per cent of the Australian market, and foreign-owned firms currently control 66.9 per cent of “comprehensive ‘big-brand’ investment managers’ business” and 29.5 per cent of boutique and specialist investment managers’ business.

At the same time, Australian investors’ allocations to international equities has steadily risen from 16 per cent to 24 per cent since the 1990s, while Australian equities investment has dropped from 30 per cent to 23 per cent in the same time period.

“Australia’s investment management market is one of the most disruptive and competitive sectors in the world,” Dr. David Gallagher, executive director of research at Rainmaker Information, said.

“Australia enjoys a world-class investment management sector, renowned for the skills of the professionals who work in the industry, and has thrived over the past three decades as a result of entrepreneurship, innovation, and the sizable growth of our national savings pool, where superannuation (pension) assets rank fourth in the world.

“The success of the industry can also be observed from the increasing focus of offshore investment capabilities being run out of global financial headquarters, including New York and London.”

The report indicated that total gross inflows in Australia’s investment management – across both superannuation and managed funds – is estimated at almost $600 billion in the past decade to June 2025. Contributions into superannuation funds accounted for approximately 67 per cent of flows, with the remaining 33 per cent from non-superannuation managed funds.

According to the research, of the $5.3 trillion held in both superannuation funds and investments (across platforms and managed funds), superannuation accounts for 81 per cent. The remaining 19 per cent of investments is split between platforms’ seven per cent and managed funds’ 11 per cent.

Gallagher noted the research firm’s stance that total superannuation funds under management (FUM) is expected to grow from $4.3 trillion to $8.5 trillion by 2035.

“The larger super funds are internalising some investment management capabilities, but a growing market alongside increased allocation to international equities and alternatives will present opportunities to international managers particularly due to their on-the-ground insights to equities in their region, be it in the US, UK, Europe, Asia or elsewhere,” he said.