superannuation

"Our intent and position to support reconciliation through practical actions is unchanged by the outcome of the referendum," said Ross Piper, CEO of superannuation at Australian Ethical, which has A$9.2 billion under management.

Australian superannuation fund UniSuper, which runs a $15 billion private markets portfolio investing in unlisted infrastructure and private equity, is looking to grow its portfolio.

He said the working class would bear the brunt of the program while the super rich benefited from it because of its reliance on superannuation funds that include Employee Trust Fund and Employee Provident Fund.

Central Bank governor, Nandalal Weerasinghe, previously said the treasury bills owned by the bank would be converted into treasury bonds with a longer maturity period and the same has been proposed for superannuation funds.

Central Bank governor Nandalal Weerasinghe said the treasury bills owned by the bank will be converted into treasury bonds with a longer maturity period and the same has been proposed to superannuation funds.