AustralianSuper announces a further £8 billion investment in the UK

A fresh £8 billion investment from Australia’s biggest pension fund, AustralianSuper, will take its total investment in the UK to over £18 billion by the end of the decade.

It comes after Chancellor Jeremy Hunt met with CEO Paul Schroder, alongside some of the Board, yesterday afternoon and rounds off a day of significant investment announcements, including the government announcing over £360 million of funding for advanced manufacturing.

Chancellor Jeremy Hunt said: “This major investment from AustralianSuper will promote growth and strengthen the UK’s position as a leading financial centre, creating wealth and helping to fund public services.”

“Britain continues to be Europe’s leading hub for investment, and it is through commitments like this that we will funnel billions into our brightest, burgeoning businesses to scale up and grow.”

The Australian pension fund industry is the fastest growing in the developed world with assets under management doubling every five years, and the Chancellor has previously referred to the success of the pensions model in Australia, which has pioneered a similar set of reforms VFM.

AustralianSuper has had a presence in the UK since 2016, with approximately £8 billion currently invested in the UK and holding over £2.5 billion in UK listed equities. It is on track to deploy more than £8 billion of new capital by 2030 into large-scale, long-term investment opportunities in some of the fastest growing sectors in which Britain excels in comparison to its European peers, such as the energy transition and digital infrastructure.