Australia’s largest pension fund has a cash flow problem — too much of it coming in.
AustralianSuper Pty. saw inflows of A$16 billion ($11 billion) last year, fueled by people switching to non-profit pension funds as misconduct scandals trashed the reputations of for-profit peers. That posed a “real challenge,” said Shaun Manuell, a senior portfolio manager at the A$185 billion fund.
