Australia warns $3.2 trillion pension fund industry to lift systems investment
Australia's corporate regulator has warned the nation's A$4.5 trillion ($3.16 trillion) pension fund industry it needs to invest more in systems and technology to better prepare for the future and avoid becoming troubled like stock market operator ASX (ASX.AX), opens new tab. Australian Securities and Investments Commission (ASIC) Commissioner Simone Constant said the pension fund industry, known locally as superannuation, was on track to be worth A$6 trillion by 2030. At that size, she said, it would be larger than Australia's banking...
