Australia’s top 30 super funds have been reducing their investments in oil and gas producers Woodside and Santos over the past two years, relative to the Australian stock market, according to new analysis by Market Forces.  

The top 30 super funds have on average reduced their holdings in Woodside by 0.3 per cent against the company’s weight in the ASX300, according to superannuation mandatory disclosures. This reduction is equivalent to 10 per cent of Woodside’s market share. 

The three funds with the highest investment exposure to Woodside, compared with the ASX300 benchmark as of 30 June 2023, are: 

  • AustralianSuper’s Balanced option: 1.69 per cent above the benchmark weight 
  • ESSSuper’s Growth option: 1.47 per cent above the benchmark weight 
  • AMP’s MySuper 1970s option: 0.65 per cent above the benchmark weight 

The three funds with the highest investment exposure to Santos, compared with the ASX300 benchmark, as of 30 June 2023 are: 

  • ESSSuper’s Growth option: 3.05% above the benchmark weight 
  • Hostplus’ Balanced option: 1.64% above the benchmark weight 
  • Equipsuper’s MySuper option: 1.41% above the benchmark weight