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The Market Entry Report explores how an investment manager, both domestic and international, can establish and operate a managed investment scheme, whether this is offered to superannuation (pension) funds at the institutional level, or via the intermediary market which includes financial advice groups, platforms and managed accounts.
The report explores the regulation, history, market size, key intermediaries and governance considerations for operating a managed investment scheme in Australia.
International investment managers currently manage 44.9% of Australia’s investment market.
Meanwhile allocation to international equities has increased by 16% to 24% since the 1990s, while Australian equities allocation has fallen from 30% to 23%.
“Australia’s investment management market is one of the most disruptive and competitive sectors in the world,” said Dr. David Gallagher, executive director of research at Rainmaker Information.
“Australia enjoys a world-class investment management sector, renowned for the skills of the professionals who work in the industry, and has thrived over the past three decades as a result of entrepreneurship, innovation, and the sizable growth of our national savings pool, where superannuation (pension)assets rank fourth in the World."
“The success of the industry can also be observed from the increasing focus of offshore investment capabilities being run out of global financial headquarters, including New York and London.”
Foreign-owned firms control 66.9% of comprehensive ‘big-brand’ investment managers’ business, and 29.5% of boutique and specialist investment managers’ business combined.
Total estimated gross inflows into Australia’s investment management industry (superannuation and managed funds) over the past decade was A$597.7 billion for the year to June 2025.
“Fund flows in 2025 were running at 1.5 times the 10-year average,” said Gallagher.
67% of these flows were sourced from contributions into superannuation funds and 33% sourced from non-superannuation managed funds.
The compulsory superannuation guarantee is currently set at 12% of wages and salaries being paid into an employees’ superannuation account, and this equates to 68% of total contributions, with the remaining 38% being additional, voluntary contributions.
Australia’s superannuation and wealth management market – as at June 2025
Australia’s superannuation market now holds A$4.3 trillion in funds under management and is expected to grow to A$8.5 trillion by 2035, according to Rainmaker Information.
Superannuation now holds 72% more than Australia’s gross domestic product.
“The larger super funds are internalising some investment management capabilities, but a growing market alongside increased allocation to international equities and alternatives will present opportunities to international managers particularly due to their on-the-ground insights to equities in their region, be it in the US, UK, Europe, Asia or elsewhere.”
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Internally managed assets have more than doubled in five years—rising from an estimated $227 billion in 2020 to $550 billion in 2025.
Australian ETP market records $51.9 billion in net flows for 2025, up 60% year-on-year
