Treasurer Daniel Mookhey will host global superannuation leaders in Sydney in the second half of this year, following the success of an inaugural gathering of the Australian sector in the US last week.
The Sydney Superannuation Summit will build on the NSW capital's steadily growing position as the financial hub of the Asia Pacific.
Last week's landmark Australian Superannuation International Summit, hosted by US Ambassador Kevin Rudd in Washington and New York, brought together Australia's biggest funds to showcase their potential on the world stage.
Together the Australian funds invest $631.6 billion into the US economy.
Financial leaders addressing the summit included US Treasury Secretary Scott Bessent and Australian Treasurer Jim Chalmers.
NSW Treasury Corp chief executive David Deverall told the gathering how Sydney's status as the financial services hub of the Asia Pacific had evolved.
Mr Deverall said Sydney's economic strength was underpinned by a strong investment pipeline, a large skilled workforce and advanced digital infrastructure.
He said that Sydney is home to the country's biggest banks, and that it dominates Australia's venture capital and private equity activity in Australia.
Nearly 60 per cent of Australian venture capital is in NSW. Mr Deverall told the summit Sydney's advanced digital infrastructure and willingness to embrace innovation had made it an attractive place for businesses to start and grow.
Sydney produces half of Australia's business "unicorns", or those valued above USD$1 billion, and almost three quarters of those on the way to reaching that threshold.
It is a world leader in research output per capita, a strength which plays into its financial and tech workforce and is reflected in a steady supply of qualified graduates from its universities.
It is ranked fourth in the world as the most popular investment destination for foreign investors, after Dubai, London and Singapore, according to Investment Monitor.
Australian superannuation funds manage a total $4 trillion in assets.
Treasurer Daniel Mookhey said:
"The Sydney Superannuation Summit will leverage our strength as the financial hub of the Asia Pacific.
"Half of Australia's businesses unicorns were born right here in NSW. They've been able to grow because of the high value we place on innovation and technological development.
"Sydney ranks in the top five of the most popular investment destinations around the world. Our Summit is an opportunity to harness that momentum."
