Industry Superannuation Funds in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: October 2023
ANZSIC OD5513Revenue
$111.9bn
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
5,376
Businesses
24
Wages
$XXX.Xm
Industry Superannuation Funds in Australia industry analysis
Industry super funds are not-for-profit superannuation funds that operate for the benefit of their members. Revenue for the Industry Superannuation Funds industry has risen strongly over the past several years despite significant volatility. Numerous recent events have created volatility for the industry’s investment income, including the COVID-19 pandemic, subsequent inflationary pressures and oscillating interest rates. Volatility during the pandemic led to investment losses for industry super funds in 2019-20 and 2021-22. Investment returns are expected to rebound strongly over the two years through 2023-24. Overall, industry-wide revenue has been growing at an average annualised 12.5% over the past five years and is expected to total $111.9 billion in 2023-24, when revenue will jump by an estimated 13.2%.
Trends and Insights
- There has been significant consolidation activity as super funds have sought cost savings for members. Large industry super funds have grown their asset base via mergers and acquisitions, allowing them to achieve economies of scale in the industry.
- The overall asset allocation of industry super funds is relatively stable. Nevertheless, the industry's product breakdown is influenced by the interest rate environment and trends like increasing industry super funds seeking investments outside local financial markets.
- Industry super funds are primarily located in Melbourne or Sydney. This is due to the benefits of being close to other investment professionals and fund managers.
- Industry super funds mainly compete based on returns and fees. Funds usually advertise their investment performance or returns on different funds as a point of difference over other superannuation funds.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 12.5 % over the past five years, to reach an estimated $111.9bn in 2023.
Trends and Insights
Revenue volatility has been very high due to super funds’ significant exposure to equity markets
- Revenue volatility has been very high recently due to industry super funds' significant exposure to global and domestic equity and other financial markets.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Compulsory superannuation contributions will be increased incrementally to 12% by 2025
- The Federal Government announced plans to raise the compulsory superannuation contribution paid by employers by 0.5% incrementally until it reaches 12.0% in 2025.
Biggest companies in the Industry Superannuation Funds in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
AustralianSuper | 28,863.5 | |
Australian Retirement Trust | 25,976.9 | |
UniSuper | 10,510.6 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Listed equities, Property and Fixed income. Listed equities is the largest segment of the Industry Superannuation Funds in Australia.
Trends and Insights
Industry super funds have increasingly invested in overseas listed equities
- Industry super funds typically have a large share of assets invested in listed equities, including Australian and international shares.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Superannuation Funds in Australia
- Funds Management Services in Australia
Complementors
- Custody, Trustee and Stock Exchange Services in Australia
- Superannuation Funds Management Services in Australia
International industries
- Global Pension Funds
- Retirement & Pension Plans in the US
- Superannuation Funds in New Zealand
- Pension Funding in the UK
- Pensionskassen und Pensionsfonds
Table of Contents
About this industry
Industry definition
Industry firms provide retirement benefits to its members, which are sometimes employed in specific industries, and are often not-for-profit superannuation funds. Industry revenue is represented by investment revenue.
What's included in this industry?
Listed equitiesPropertyFixed incomeCashInfrastructureHedge fundsUnlisted equitiesCompanies
AustralianSuperAustralian Retirement TrustUniSuperPurchase this report to view all 7 major companies in this industry.
Related Terms
CUSTODIANSMSFRSEIndustry Code
ANZSIC 6330 - Industry Superannuation Funds in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
There has been significant consolidation activity as super funds have sought cost savings for members. Large industry super funds have grown their asset base via mergers and ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The overall asset allocation of industry super funds is relatively stable. Nevertheless, the industry's product breakdown is influenced by the interest rate environment and t...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Industry super funds are primarily located in Melbourne or Sydney. This is due to the benefits of being close to other investment professionals and fund managers.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Industry super funds mainly compete based on returns and fees. Funds usually advertise their investment performance or returns on different funds as a point of difference ove...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Significant mergers and acquisitions have occurred among the major companies in recent years. Larger funds have absorbed smaller funds to achieve economies of scale and provi...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of AustralianSuper's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Australian Retirement Trust's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of UniSuper's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for AustralianSuper, and factors influencing its performance in the industry
- Description and key data for Australian Retirement Trust, and factors influencing its performance in the industry
- Description and key data for UniSuper, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Industry Superannuation Funds industry's regulatory and taxation environment is complex. Regulation affecting superannuation changes frequently, with successive governmen...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit is unique among superannuation industries, as it is often the surplus and benefits allocated to members of a fund. The primary objective of industry super funds is to ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Industry Superannuation Funds industry in Australia in 2024?
The market size of the Industry Superannuation Funds industry in Australia is $111.9bn in 2024.
How many businesses are there in the Industry Superannuation Funds in Australia industry in 2023?
There are 24 businesses in the Industry Superannuation Funds industry in Australia, which has declined at a CAGR of 7.3 % between 2018 and 2023.
Has the Industry Superannuation Funds industry in Australia grown or declined over the past 5 years?
The market size of the Industry Superannuation Funds industry in Australia has been growing at a CAGR of 12.5 % between 2018 and 2023.
What is the forecast growth of the Industry Superannuation Funds industry in Australia over the next 5 years?
Over the next five years, the Industry Superannuation Funds industry in Australia is expected to grow.
What are the biggest companies in the Industry Superannuation Funds market in Australia?
The biggest companies operating in the Industry Superannuation Funds market in Australia are AustralianSuper, Australian Retirement Trust and UniSuper
What does the Industry Superannuation Funds in Australia include?
Listed equities and Property are part of the Industry Superannuation Funds industry.
Which companies have the highest market share in the Industry Superannuation Funds in Australia?
The company holding the most market share in Australia is AustralianSuper.
How competitive is the Industry Superannuation Funds industry in Australia?
The level of competition is high and increasing in the Industry Superannuation Funds industry in Australia.
