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AustralianSuper cuts ASX holding to under 10%
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AustralianSuper cuts ASX holding to under 10%

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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.

The fund recently blocked a $13 billion takeover of BlueScope Steel, signaling its intent to hold out for valuations "materially higher" than current market offers.