Compare Credit Cards
- Credit Cards Home
- Balance Transfer Rate
- Low Interest
- No Annual Fee
- Reward Credit Cards
- Business Credit Cards
- Gold & Platinum
- Debit Cards
Compare Banking
Compare Loans
Compare Insurance
- Insurance Home
- Health Insurance
- Home Insurance
- Life Insurance
- Motor & Bike Insurance
- Travel Insurance
Investment Providers
Links
Australian Super Funds Fastest Growing In The World
New data shows that Australian superannuation (super) funds and their sovereign counterparts were amongst the 300 fastest growing pension funds globally over the last five years.
The research report authored by consulting firm Watson Wyatt, and an American investment trade journal, also shows that Australia’s Future Fund, is now the 11th largest sovereign pension fund in the world.
The report also added that in local currency terms, Australian funds had the fastest annual growth rates in the world during the 2003 to 2008 time period.
Australia’s sovereign and super funds grew at an average annual pace of 14.4 per cent over the last five years, compared with an average growth rate of 9.6 per cent, constituting the fastest growth rate amongst the world’s top 300 pension funds.
Graeme Miller of Watson Wyatt said that Australia’s policy of mandatory superannuation, one of the few countries with such a scheme, had driven the growth.
“The main driver far and away is compulsion. This meant these funds had very strong positive cash flows. The second-order effects would have been tax incentives where particularly over the last five years there have been tax events that have encouraged people to put more money into super.” Mr. Miller said.
Mr. Miller also added that the Australian stock market’s relative outperformance of global peers in the last five years had also been a driver of higher growth rates
There are twelve Australian funds amongst the world’s top 300 pension funds, comprising 2.1 per cent and with combined assets under management (AUM) of $254.91 billion.
By far and away the largest Australian investment pool is the Future Fund, with $52.84 billion under management. The remaining 11 local funds are dominated by public sector funds.
According to Watson Wyatt, the Future Fund is now the 11th largest sovereign pension fund in the world, and is ranked number 52 amongst the top 300 funds, up from 66 in 2007.
The world’s largest pension fund is the Japanese government’s pension investment fund, managing $1.5 trillion.
Compare Australian Online Share Trading Accounts
Related posts
Comments
Leave a Reply