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Melbourne is pension 'capital': Trade Victoria

Melbourne is pension 'capital': Trade Victoria

Tim Stewart
— 1 minute read

The Victorian government has launched a new campaign promoting Melbourne as a funds management hub.

The Trade Victoria campaign pitches Melbourne as home to 60 per cent of Australia's institutional investors, a "world-leading" superannuation sector and a "dynamic" fintech sector.

"Victoria is working with the financial services sector to build strategic partnerships in Asia and develop new export opportunities across the region," according to the Trade Victoria website.

In a promotional video, AustralianSuper chief investment officer Mark Delaney describes Melbourne as "the capital of Australia's pension industry".

"The key attraction of being located in Melbourne is that there are these large pools of capital here – industry funds and government funds. Being close to them gives you a substantial advantage," Mr Delaney said.

Bennelong Funds Management chief executive Craig Bingham said the attempted entry of multiple offshore players has made Australian funds management a "highly competitive marketplace".

"Every player around the world considers who they might play the Australian game. My counsel to people coming on shore is that Australia looks very attractive, Melbourne moreso," Mr Bingham said.

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Melbourne is pension 'capital': Trade Victoria
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