Cap big super at 10pc of ASX companies: senator
Hannah WoottonReporter
Superannuation funds’ shareholdings may need to be capped to protect retail investors from the “enormous distortion of power” the $3.6 trillion industry holds in capital markets, a Liberal senator has warned.
Andrew Bragg said the “outsized influence” of super funds was a national concern because it was starting to limit the ability of everyday Australians to invest in and influence local companies.
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Hannah Wootton is a reporter for the Financial Review. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.com
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