A handful of giant pension funds in Australia are set to emerge as titans of global finance as the country’s regulator promotes mergers in the A$3.3tn (£1.8tn) superannuation sector.
Analysts said recent reforms were driving the sector towards a structure of three to five megafunds, following a record 15 mergers in the 12 months to October 2021.
The shift has been underpinned by the vast pools of assets created by Australia’s system of compulsory pension saving.
The four “super funds” with more than A$100bn in assets under management are AustralianSuper, Aware Super, UniSuper and QSuper.
