Superannuation funds will own nearly two-thirds of the Australian sharemarket within 20 years, by which time they could appoint their own directors to company boards, Deloitte says.
Deloitte modelling showed money in the super system will climb from $2.7 trillion today to more than $10 trillion over the next 20 years. By then, a smaller number of mega-funds will own 60 per cent of shares in the ASX.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
