The event, which saw key representatives from superannuation funds, investment managers and peak bodies, was designed to position Australia’s super system as a key player in global finance.
The summit, also aimed at strengthening US–Australia ties, was deemed a success by attendees, including the Association of Superannuation Funds of Australia and several superannuation funds, with the NSW government confirming a follow-up event in Sydney later this year.
In a statement issued on Monday, the state government announced the Sydney Superannuation Summit, aimed to capitalise on the city’s growing role as the “financial hub of the Asia-Pacific”, supported by a strong investment pipeline, skilled workforce and advanced digital infrastructure.
“Half of Australia’s businesses unicorns were born right here in NSW. They’ve been able to grow because of the high value we place on innovation and technological development,” Treasurer Daniel Mookhey said.
“Sydney ranks in the top five of the most popular investment destinations around the world. Our summit is an opportunity to harness that momentum.”
The summit, according to the state government, will bring together global leaders in superannuation to discuss Australia’s growing influence in the financial sector, building on the success of last week’s summit in the US.
Super celebrates success
In a separate statement last week, the attendees of the inaugural Superannuation Investment Summit said they gained insights into the economic priorities of the new US administration and potential investment opportunities for super funds.
“We look forward to continuing to uphold these relationships – and facilitating reciprocal opportunities for US investors and innovators to come to Australia,” the statement reads.
“Throughout the week, we have demonstrated superannuation as a distinctly different pool of capital – member focused, long-term, reliable and from a trusted ally – and explained its scale and growth.”
The summit arrived at a crucial time for both the US and Australia, with projections showing that by 2035, millions of Australians will invest a trillion US dollars in America through their superannuation.
Namely, last week, a new report commissioned by IFM Investors found that, in particular, local funds are expected to invest US$140 billion in US private markets, with around US$60 billion earmarked for infrastructure, targeting sectors such as roads, ports, logistics, energy and telecommunications.
Speaking at the summit, Treasurer Jim Chalmers suggested that in return for welcoming super’s sizeable investment pool, Australia stands ready to supply 36 of the 50 minerals the US lists as critical for advanced technology and defence.
“Around half of our exports are inputs into American domestic production processes,” he said.
“We are already one of America’s top 10 foreign investors. And we have trillions of patient, friendly pension capital ready to invest in the new opportunities that lie before us,” he added.
Moreover, Chalmers announced Labor’s vision to “build Australia’s stature as a financial centre for the Indo‑Pacific”.
“Australia has the talent, the financial infrastructure and the institutional capability to mobilise capital efficiently – facilitating capital flows, structuring investments and directing funds to where they can generate the best returns.”
