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The value of Australian’s superannuation pool rose to a record high of $3.62 trillion in the June quarter, a highlight of the managed funds industry’s surging overall performance over the past year as rising rates and rebounding markets improved asset values.
Growth in superannuation drove Australia’s managed fund industry to near-record levels in the December 2022 quarter. While most asset classes delivered positive returns and Australian equities outperformed, investors are looking more to offshore assets for portfolio diversification.
Australian managed funds are the worst in the world for disclosing to investors what stocks they buy and other portfolio information crucial to making informed decisions. They are also poor at disclosing their ESG and stewardship policies and practices, compared with most other major countries. But the good news is that they are among the…