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AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria. It is an industry super fund, and so operates through a mutual fund structure.
With over 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
In June 2022, Labour Union Co-operative Retirement Fund (LUCRF) Super was merged into AustralianSuper. In September 2023, AustralianSuper invested $1.5 billion into Vantage Data Centres. Also in September, The Australian securities regulator issued a lawsuit against AustralianSuper, claiming the fund failed to uphold appropriate policies for identifying members who had multiple accounts.
In November 2023, it bought significantly more shares in order to oppose a deal for Origin Energy, one of Australia's largest energy companies, to be bought by Brookfield Renewable Partners, potentially blocking the deal. This deal would have led to "a big transition, shutting down coal, getting rid of gas, (and) building up 14 gigawatts of wind and storage" which was more than the Commonwealth's renewable energy target. They felt the deal undervalued the company, despite it being higher than independent valuations, and also refused to join the deal.
In January 2024, AustralianSuper raised its stake in lithium miner Pilbara Minerals and Endeavour Group.
AustralianSuper's asset portfolio is invested globally, and includes shares, transport infrastructure, office blocks, and shopping centres. The fund owns two-thirds of London's Kings Cross Central development.
In 2022, the company launched a new digital platform including a new online portal and mobile phone applications. The updates were met with severe criticism as members were unable to access their accounts and were unable to get any answers from the customer support portals.
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