What happened
Research by Rainmaker Information analyzing 40 superannuation funds showed the average share of assets managed internally grew from 9.3 per cent in 2019 to 22.1 per cent in 2025. The shift was led by liquid asset classes, with internally managed cash surging by 26 percentage points and Australian equities increasing by 21.6 percentage points.
Why it matters here
As superannuation funds scale up and build internal investment capabilities, they bypass third-party investment managers to reduce operational fees for members. For Australian investors and financial firms, this institutional shift alters trading liquidity, market dynamics, and fee structures across domestic equity markets.
What to watch
Annual reporting disclosures from major Australian superannuation funds regarding ongoing internal investment strategy expansion into private equity, infrastructure, and offshore fixed income asset classes.
Source
financialstandard.com.au