Giant Australia Pension Funds Grow to Eight in $2.7 Trillion Pot

Growth in Australia’s booming A$4.2 trillion ($2.7 trillion) pensions industry pushed another firm into the so-called mega fund category, a further sign of the country’s swelling retirement pot becoming dominated by the biggest players.

With the addition of Hostplus, there are now eight funds meeting KPMG Australia’s mega fund criteria of more than A$100 billion in assets under management, according to analysis released Tuesday. They oversee a combined total of about A$1.5 trillion, the report showed.