Australian superannuation funds, which are pension schemes to which employers are required to make compulsory contributions, have about A$1.4 trillion ($1.24 trillion) in assets under management, according to the Australian Prudential Regulatory Authority. An estimated 10% of those assets are invested in alternative investments such as hedge funds, real estate and private equity.
According to those in the industry, a maturing market and disappointment with external manager or fund selection into alternatives is encouraging the superannuation schemes to turn to in-house expertise.
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