Big super is flooding the ASX with a record amount of money
For all the talk about private markets, our super retirement funds still love their bread-and-butter listed shares. But that’s not what is driving valuations.
More proof has emerged about just how hungry big superannuation funds are for Australian shares, to the point where we should consider whether their record level of buying is what’s driving the ASX to highs, and perhaps asset prices more generally.
Australia’s super funds received $57 billion in member contributions in the June quarter – a record amount, and 13 per cent more than the same time last year.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
