Macquarie Group remains Australia's largest asset management firm, according to the latest data released by Willis Towers Watson.
The 2016 Willis Towers Watson Top 500 Asset Managers survey has Macquarie ranked at 52, with the next best ranked Australian firm being Colonial First State at 99, followed by NAB Asset Management at 135.
Indeed, the Willis Towers Watson 2016 has confirmed the dominance of the US, with US-based firms filling the top four stops.
BlackRock was the largest asset manager, followed by Vanguard, State Street and Fidelity with Europe's Allianz placing fifth.
However, the data also pointed to the degree to which Australia had been heavily advantaged by the nature of its superannuation regime, with growth in assets under management growing by 12 per cent in 2015 under local currency terms, albeit that this was reduced to just five per cent in US dollar terms.
The superannuation regime was also largely responsible for the fact that assets received from Australia saw the greatest growth in 2015 with an increase of 8.6 per cent, while those received from the UK grew by 3.6 per cent.
Prime Minister Anthony Albanese has called a federal election for 3 May, seeking to capitalise on Labor’s recent budget, just hours after Peter Dutton outlined his economic plan and accused the government of fuelling inflation through excessive spending.
Australia’s largest super fund, AustralianSuper, has divested its stake in WiseTech Global, citing concerns over the company’s governance and management, which failed to meet the fund’s expectations.
While the superannuation sector has welcomed stability in super settings, statements following Tuesday’s budget announcement indicate there are areas the sector believes the budget fell short.
Treasurer Jim Chalmers' fourth budget revealed a $207 billion fiscal turnaround, with tax receipts, superannuation revenue, and debt reduction playing key roles.