AustralianSuper

Institution · Superannuation fund

AustralianSuper is Australia's largest superannuation fund and one of the 40 largest asset owners in the world, with more than AUD 410 billion in assets under management as of 31 December 2025 and a private-markets portfolio exceeding AUD 85 billion across infrastructure, real estate, private credit, and private equity (AustralianSuper). The fund runs more than 400 investment professionals across 7 global offices, including New York, London, and Beijing, and has been investing directly in unlisted assets for more than 25 years. For a tokenisation operator, AustralianSuper is the reference example of an APAC pension fund that has already built the global institutional infrastructure, direct-investment discipline, and balance-sheet scale a tokenised-asset allocation would require; it has no public tokenised-asset holding as of this writing.

What it is

AustralianSuper is a not-for-profit industry superannuation fund, member-owned rather than shareholder-owned, formed from a series of mergers over the past two decades. Its scale places it inside the group of 9 Australian “megafunds” each holding more than AUD 100 billion, a cohort that now accounts for the large majority of the country’s superannuation assets following a wave of fund consolidation. Assets under management are forecast to reach roughly AUD 600 billion by 2030 on current contribution and growth trajectories.

Relevance to tokenisation

AustralianSuper’s global office footprint and multi-decade direct-investment track record are the closest structural fit in Australia for the operational profile a tokenised-asset allocation would need: in-house teams capable of underwriting unlisted, illiquid, and novel structures without relying entirely on external managers. The open questions are custody (whether a model APRA’s prudential lens accepts for member retirement savings exists yet), product wrapper (whether a tokenised MMF (money-market fund) or fund-of-fund structure clears the fund’s own investment-committee bar), and capital treatment (how a tokenised instrument compares with its conventional equivalent under Basel-tracking prudential rules). See Australia for the jurisdiction-level framing of this question.