Hidden in full view in a press release by the White House this week was a “promise” for Australian superfunds to “increase investments in the United States to $1.44 trillion by 2035.” What’s the scam?
The scam is that no such commitment has been made, nor would the Australian Government be able to make such a commitment. It’s just a forecast, an extrapolation of current trends.
Yet, Ambassador Rudd is on record spruiking these same numbers to the US Secretary of the Interior, Doug Burgum. (Who, incidentally, also holds the title of Chairman of the National Energy Dominance Council, another Trumpian agency.)
Australian super funds are supercharging economic growth in the United States. Great to chat about our big future investments, @SecretaryBurgum. pic.twitter.com/dh7HQFVECi
— Kevin Rudd AC (@AmboRudd) October 22, 2025
To put this “promise” into perspective. Australian superfunds currently have approx. $US517B invested in US equities and bonds, about 20% of the funds’ total investments. By the sheer reality of being the world’s largest equity market, the US is already the largest recipient of Australian funds invested overseas. By far.
Using the average rate of return of 7% for super funds, the $US517B should double to around one trillion by 2035. That’s a growth of $500B or so, still a long way off the one trillion of growth claimed, but hey, what’s half a billion to Trump and his press corp…
It’s a moot point, anyway, as the press release (and Rudd) remain schtum on what measures Australia will put in place to reach this lofty “promise”.
MWM has put a question to the Prime Minister’s office, asking what’s behind the promise. We are awaiting their reply with bated breath.
It beggars belief to think the government, tight as it is with industry super, would instruct the super funds to ‘up’ their asset allocations even further for US shares and bonds, or private equity and unlisted assets too.
As for the claim that “This unprecedented investment will create tens of thousands of new, high-paying jobs for Americans”,… well, it’s a hard one to prove. Meanwhile, we await the explanation of where that extra $500B is coming from.
