BIS Review 148/2007  1  Reasons for growth What has been behind this rapid expansion in the industry? A large part of the growth over the past couple of decades has been due to superannuation. Superannuation fund assets have grown by an average of 14½ per cent per annum since 1990, and now comprise about half the funds under management in Australia.
This rise in superannuation assets reflects a number of government initiatives, such as the introduction of compulsory superannuation contributions in the early 1990s and the concessional taxation of superannuation.