Australia was lauded for its world-class super scheme at the US Superannuation Investment Summit this week, as Australian super fund investment in the US is predicted to more than double over the next decade.

NAB Group Executive, Corporate and Institutional Banking, Cath Carver, who attended the US Superannuation Investment Summit, said NAB’s long-term relationships in the $US2.8 trillion ($4.5 trillion) superannuation sector and the insights it generates as the nation’s leading business bank make it an ideal partner for super funds as they comb the US for lucrative opportunities.

Ms Carver said NAB expected to deepen its relationship with the sector as the big funds increasingly looked offshore, particularly in the US, to lift returns and diversify risk.

“The Australian superannuation sector now has the global scale and presence to be a trusted partner of the US as it renews its infrastructure investment or invests in new facilities, whether it’s data centres to power the AI revolution or roads, ports and logistics,” she said.

“We support the funds and their customers as they transition from starting an account to accumulation and then to the drawdown phase, and we innovate with technology like Pay By Bank which makes it easier and faster for members to make their contributions and receive their retirement income.

“With our experience banking multiple sectors in the economy, we’re also able to pass on valuable insights that help to inform investment decisions and operate assets.”

The purpose of the summit, convened by Australia’s ambassador to the US Kevin Rudd and Consul-General to New York Heather Ridout, was to open up investment opportunities and position the nation’s retirement system as a safe and reliable provider of long-term capital.

At its current growth trajectory, the system has been forecast to leap from fourth position to the second-largest pension fund market globally by 2030.

Among the super funds, industry bodies and financial groups to attend were NAB, IFM Investors, Cbus, Australian Retirement Trust, AustralianSuper, Aware Super, Macquarie Infrastructure Partners, Macquarie Infrastructure and Real Assets, UniSuper, HESTA, Aware Super, the Future Fund, Rest Super, the Australian Council of Superannuation and the Association of Superannuation Funds of Australia.

Federal Treasurer Jim Chalmers also attended while visiting the US as part of engagement with his new counterparts in the Trump administration.

Asset manager IFM Investors and the Super Members Council commissioned a report from economics advisory firm Mandala for the summit called “Going Global: Unlocking the Growth Potential of Australian Pension Capital”.

One of its conclusions was that the US would be the top investment destination for super funds as they scoured the world to deliver the best investment returns for their 15 million members.

The report forecast that Australian super fund investment in the US would more than double over the next decade from $US400bn to over $US1 trillion.

Investments in US infrastructure could also increase from $US20bn today to $US110bn by 2035 across a range of assets, including roads, ports and logistics, data centres, energy and communications.

Over the last decade, according to Mandala, international investment by the funds had more than doubled to $US800bn, growing faster than domestic investments and helping Australians achieve diversification and higher returns.

The report said that existing trends suggested that Australian pension funds would have more than $US2.6 trillion invested outside Australia by 2035.

The significant appetite for overseas investment opportunities has been reflected in super funds establishing offices in the US and around the world.

It also comes as President Trump issued a policy memorandum a week ago to give preferential treatment to investment from US allies.

Ballpark estimates have indicated that the US will require more than $US7 trillion in infrastructure investment, including maintenance and upgrades, over the next decade.

Macquarie said in a statement there would be significant US opportunities in critical minerals, particularly downstream, as market evolution and technology advances required large-scale processing and manufacturing in the US.

Newly appointed US Treasury Secretary Scott Bessent said in an address to super fund bosses, business leaders and government officials that he was struck by how the Australian system delivered “sustainable” and “regular” growth.

This was in contrast to some large sovereign wealth funds, where growth was contingent on the price of particular commodities.

“That’s what I was struck by – the confidence you have in the growth is not what one might expect for Australia … your regularity, sustainability and trajectory are really preferable,” Mr Bessent said.

Ms Carver said Australia and the US have long been strategic partners, sharing an interest in the other’s prosperity.

“I can only echo US Treasury Secretary Scott Bessent’s point that longstanding, trusted allies with shared interests make the best economic partners,” she said.

“It’s even more relevant today because, increasingly, each side has what the other side wants.

“Australia has developed a world-class retirement income scheme – it manages the fourth biggest pool of pension funds in the world, even though we only rank 14th by GDP, and it’s growing fast.

“As Treasurer Jim Chalmers said at the summit, the super pool could be almost two-and-a-half times the size of the Australian economy in the next three decades.”