Asset Owner Directory

State Super (SAS Trustee)

State Super is the Trustee of the State Authorities Superannuation Scheme (SASS), State Superannuation Scheme (SSS) and Police Superannuation Scheme (PSS). The assets of all schemes have been combined into the STC Pooled Fund. State Super is one of Australia’s largest superannuation schemes with 100,000 members.



AUM ($B)




Chief Executive

John Livanas

Chief Investment Officer

Charles Wu


Nicholas Johnson

Asset allocation
The State Authorities Superannuation Scheme (SASS) is classified as a hybrid scheme because it has both a defined benefit component and an accumulation benefit component. In an accumulation scheme, a member's benefit comprises the contributions made to the scheme together with investment returns (positive or negative), less tax and expenses. State Super has multiple investment options, however, the majority of the fund is managed under the defined benefit Trustee Selection Strategy option which had AUD 33.692 bn funds under management as of June 30, 2020.

12.4% Australian Equities

19% International Equities

10.3% Infrastructure

1.8% Property

9.7% Other Alternatives

4.2% Australian Fixed Interest

4.8% International Fixed Interest

0.1% Defensive Strategies

28.2% Cash related articles
Investor Profile

First State: superannuation’s evolution

Most of Australia’s retirement system is still just heading towards investing with scale for both accumulation and pension phase. The A$70 billion First State Super and CIO Damian Graham are already there. So what do its investments look like?
Uncategorised posts

Why investors employ smart beta strategies

The common view is smart beta is used to side step expensive active equity managers or hedge fund managers whose processes are on the surface opaque, but on close investigation turn out to be largely beta like in approach. As investors have gained experience and familiarity they have also learnt about how it offers greater […]

Inaction over Woodside demonstrates complexity for Australian funds

Australia’s first-ever shareholder vote on climate change, put to Woodside Petroleum in April, provided superannuation funds with a prime opportunity to support the sustainability principles that many of them have espoused for years. But at this first hurdle, many crashed and burned, prompting the question: how seriously are funds pursuing sustainability through their investments? ACSI, […]