Almost $11 billion flowed out of scandal-plagued retail superannuation funds into industry funds in 2018, with AustralianSuper the biggest winner and AMP the biggest loser.
Australian Prudential Regulation Authority figures published on Tuesday show $3.5 billion exited retail funds in 2017 but that figure tripled to $10.9 billion in 2018.
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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
