Australian industry funds have rocketed up the rankings of the world’s biggest pension funds as the mandated system continues to fuel the industry’s growth.
Not many concentrate their whole philosophy on investor biases. ClariVest Asset Management, however, does so and with considerable success.
KiwiSaver, as new financial technology, has been adopted quicker than expected, with more than $40.6 billion invested as of March 2017.
The decade leading to 2016 has seen the industry, not including SMSFs, shrink from 872 funds to 244 – a fall of 72% in just 10 short years.
Carillon Tower Advisers is buying Scout Investments, including Reams Asset Management for a combined $60 billion in client assets under management.
Returning to the Australian market last year, US asset manager ClariVest is now employing its emerging markets strategy with an industry super fund.
With current total assets of $2 trillion, the pool of the Australian superannuation system is projected to reach $9.5 trillion by 2035.