Qantas Super Merges With Australia’s Second Biggest Pension Fund

Australian Retirement Trust, the nation’s second-largest pension, agreed to merge with smaller rival Qantas Super, in the latest sign of mega-funds ramping up their domination of the A$3.9 trillion ($2.6 trillion) industry.

The merger will see ART, with almost A$300 billion under management, add another A$9 billion of assets to its books, it said in a statement Wednesday. Qantas Super was formed 85 years ago as the pension fund of the national carrier.

Australia’s pension pool is forecast to top A$13.6 trillion by 2048, according to analysis by Mercer. It sees a dozen funds controlling more than A$100 ...