Six Aussie industry funds make global Top 100
Just five Australian superannuation funds, all of them industry funds, have the scale to be counted within the top 100 pension and investment funds globally but that number is likely to rise as a result of continuing mergers, according to new research from Willis Towers Watson (WTW).
The five funds to make it into the top 100 are, in rank order:
AustralianSuper
Australian Retirement Trust (ART)
Aware Super
UniSuper
Hostplus
Cbus
Australia’s Future Fund also makes it to the Top 100 but only AustralianSuper makes it into the Top 20.
Importantly, Australian funds stepped up where others, globally, struggled. The WTW research revealed that asset under management AUM in the Top 300 decreased by 12.9% over 2022, a significant change from the previous increase of 8.9% over 2021.
The latest TWT Global Top 300 Pension Funds Report also reveals that the Asia-Pacific has supplanted Europe in terms of the region’s share of pension assets, with a significant portion of those assets held within Australian funds.
Commenting on the report, WTW co-head of Governance, Investments Australia, Ellie Boston-Clark noted that Australia had 16 funds included in the top 300, with most improving their ranking on last year.
AustralianSuper remained the only fund in the top 20 globally, but the merger of Sunsuper and QSuper to create the Australian Retirement Trust saw it move to 21st place this year. The Future Fund remained in 26th place, while there were two new entrants, EquipSuper and Spirit Super, both a result of underlying mergers. All other Australian funds improved their ranking in 2022.
“The ongoing consolidation in Australia’s superannuation industry has been a major contributor to the rise in ranking of Australian funds, despite the slight weakening of the Australian dollar over the period,” Boston-Clark said.
“We expect the prominence of Australian funds among the top global asset owners to continue in coming years, but as their scale grows, in an ever more challenging and uncertain environment, they will need to shift their focus increasingly to a strong governance focus. This is essential to maintain long-term stability and ensure they meet their performance objectives.”
Australian super funds need to SHIFT their focus to increased governance!
What have they been doing up till now???
retail funds certainly do…
It wont be long before all of the Industry Super Funds are merged & their members will find it will be like flying Qantas (when they need to call the overseas hotline service team). Enjoy the flight.
unlikely… very unlikely. So unlikely, verging on impossible.
Growing quantity of Australian wealth held by these funds, all holding huge positions of the top ASX listed companies or, like Sydney Airport, taking companies off the ASX, plus Aus Super CEO is on record stating he also wants control of members’ Centrelink pensions + their home equity, and we know that their union masters collude… forget voting for politicians, socialism will firmly be in control of this country within our lifetimes.
where is this on record statement?
Modern day Union Thugs dressed in pinstripe suits just like the old style Mafia.
And you can bet the Union leaders are clipping the ticket at every opportunity.
Their ownership of related services $$$$$$$$$$$$$$$
Their political donations $$$$$$$$$$$$
They have totally out smarted the LNP
how would that be reported/missed in annual reports and RG97?
Wait until the Aus gov’t starts using them to fund their own infrastructure projects and treating it like their own money. Of course the push to have retirement incomes tied up in annuities is likely to help the cause.
scaremongering
Wow Gee Headscratcher, are you an Industry Fund stooge ?
Can’t tell it’s just not that obvious ?
About as subtle as the Chinese Govt stooges.
No one wonder both being communists
Wow BD I can’t believe headscratcher can’t see the obvious shallowness of their own comments. Unless of course HS is so caught up in their own corruption they can’t see themselves for who they really are. Shame 🙁