Superannuation funds including AustralianSuper are failing to meet the levels of female representation on boards that they demand from listed companies, as data shows that almost two-thirds of the nation’s largest superannuation trustee boards have more male than female directors.

Nine of the 15 largest superannuation trustee boards have more male than female directors, according to the data, compiled by The Australian Financial Review, and four of the nation’s largest funds are represented by boards that are less diverse than the average S&P/ASX 200 company.