AustralianSuper has become the first superannuation fund to achieve an AAA credit rating from ratings agency Moody’s, surpassing both the Victorian and Queensland governments in a major coup for the country’s largest pension fund.
The fund, which has $438 billion in assets under management, hired Citi to provide advice on achieving the rating. The rating is expected to save AustralianSuper over $250 million in transaction costs between now and 2035, when it is forecast to manage more than $1 trillion in assets for more than 5 million members.
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