AustralianSuper believes there are no instances of common ownership in Australia and that its investment approach has not and is unlikely to lead to common ownership.
In its submission into the Government’s inquiry into the implications of common ownership and capital concentration in Australia, the industry superannuation fund said it took an analysis of the most recent publicly available portfolio holdings, and the fund’s current portfolio holdings and found there were no incidents of common ownership.
“AustralianSuper’s investment process in Australian equities is focussed on identifying companies we want to invest in for the long term as part of a diversified portfolio actively managed on behalf of 2.5 million Australians,” it said.
“The investment process identifies companies focussed on creating long-term shareholder value, by implementing sustainable strategies with good corporate governance.
“Our investment approach has not and is unlikely to lead to circumstances where the adverse impacts of common ownership will arise. This is borne out by the analysis set out above.”
The fund noted it complied with regulatory requirements including the Corporations Act which prohibited the acquisition of relevant interests greater than 20% in listed companies or widely held unlisted companies, except in very limited circumstances.