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Super funds looking elsewhere as they outgrow shrinking ASX

Super funds are being forced to buy fewer Australian shares as their asset pools grow faster than the shrinking ASX can accommodate, chief investment officers say, with their $3.5 trillion in retirement savings instead going overseas or into unlisted assets.

The value of Australia’s sharemarket is on track to contract this year for the first time since 2005, to the tune of $43 billion, because of an uptick in takeovers and a two-year drought of new floats.

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Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.com
Alex Gluyas is a markets reporter based in our Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/super-funds-looking-elsewhere-as-they-outgrow-shrinking-asx-20230515-p5d8er