The Australian federal government is set to examine the power “mega-funds” like U.S. giants BlackRock, Vanguard, and local super funds hold over the country’s financial sector, with the House of Representatives Standing Committee on Economics to investigate the issue of “common ownership” and whether it has led to possible collusion between firms.
Tim Wilson, federal member of Parliament and chair of the Committee, said the Australian stock exchange was already subject to increasingly concentrated ownership by a small number of mega-funds.
