AustralianSuper, the nation's largest pension fund, has reduced its position in the ASX (ASX:ASX).
Since March 2025, the superannuation giant offloaded 3,347,622 shares, effectively lowering its voting power from 11.56% to 9.81%.
The divestment comes as the exchange operator struggles with long-term price depreciation; shares closed Feb. 3 at $56.96, a sharp decline from the $70.70 levels seen five years ago.
The sell-down follows a period of mounting pressure for the ASX.
Just last week, the exchange revised its FY26 expense growth guidance upward to between 20% and 23%, citing soaring costs related to the ongoing ASIC inquiry.
This marks a substantial jump from previous estimates of 14% to 19%. While AustralianSuper is pulling back from the exchange, it remains an active heavyweight in the M&A space.