HM Treasury has published details of a voluntary Memorandum of Understanding between the United Kingdom and Australia to support greater cross-border investment by UK pension funds and Australian superannuation funds. Signed by the UK Chancellor and the Australian Treasurer on 16 April 2026, the arrangement creates a government-to-government investment partnership focused on policy and regulatory cooperation, sharing expertise, improving information flows and reducing barriers where possible. The framework also makes clear that investment decisions remain independent and must align with applicable fiduciary duties and the best financial interests of members and beneficiaries. Cooperation under the MoU may include policy and regulatory dialogue, exchange of best practice, investor missions, roundtables and other engagement to raise visibility of investment opportunities in both countries. It also covers support in navigating government systems to facilitate cross-border investment, without directing or influencing individual investment decisions. Implementation is intended to build on existing channels including the UK-Australia Joint Financial Regulatory Forum. The MoU is non-binding, operates within existing laws and regulations, and does not supersede other agreements. It took effect on signature and will remain in force for 10 years unless extended by mutual written consent. Lead officials are to be identified to support implementation, and either participant may terminate the arrangement with at least two months' written notice.

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