Vanguard Launches Pension Fund to Capture Slice of Australia’s $2 Trillion Savings Pool

A general Melbourne CBD street scene in Melbourne, Australia, on Feb. 4, 2021. Asanka Ratnayake/Getty Images

U.S. investment giant Vanguard has launched a pension fund in Australia in a bid to win a slice of the world’s fifth-largest pension fund worth $3.3 trillion (US$2.18 trillion).

On Nov. 11, Vanguard announced its new product, Vanguard Super, which will attempt to win over local workers by undercutting its competitors.