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More Australian funds in top global list
Super SA, GESB and Telstra Super have joined 12 other Australian superannuation funds in a global 300 ranking of the world’s biggest funds.
Towers Watson partnered with US investment magazine Pension & Investments to produce the top 300 list, which found Australian funds grew 16 per cent in 2009 in US dollar terms and now account for 3 per cent of the total assets in the top 300 global pension funds. The overall growth rate for funds in the top 300 was 8 per cent.
“The results of the latest survey are not surprising given the strong net positive cash flow resulting from our system of compulsory super contributions, as well as the relative strength of growth assets over the past year, with Australian funds tending to favour higher allocations to growth assets than the global average,” said Martin Goss, senior investment consultant at Towers Watson in Australia
Australian funds hold significant allocations to both equities and growth-biased alternative investments, which saw a strong reversal over the past year after losing significant value during the global financial crisis, Goss said.
The other 12 funds all improved their position with Australia’s leading fund, the Future Fund, climbing from 52nd in 2008 to 37th in 2009.
In order, the 15 Australian funds, with a combined asset size of US$296 billion are the Future Fund (37), AustralianSuper (89), State Super (98), QSuper (110), UniSuper (123), First State Super (170), ARIA (175), REST (181), ESSSuper (194), SunSuper (202), Hesta (206), Cbus (223), Super SA (285), GESB (292), and Telstra Super (295).
AUTHOR
Mike Taylor
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