Australia’s $3.4 trillion super sector is poised to become a major lender to the nation’s big corporates, but industry leaders say the prudential regulator’s new performance test may cause some funds to shy away from private credit markets.
Visy boss Anthony Pratt said the super system was on track to reach $7 trillion in assets by 2030, with funds increasingly looking to deploy members’ retirement savings in private credit markets.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
