Australian’s second-largest superannuation fund, Aware Super, will no longer consider China as an investment destination in its upcoming overseas expansion due to concerns over the Chinese regime’s behaviour and market efficiency in the country. Formerly known as First State Super, Aware Super runs a $140bn (US$109 bn) fund and is currently on the track to grow its assets under management to $200-300 bn ($US156-230 bn). Aware Super’s chief investment officer Damian Graham announced the news at a Bloomberg Inside Track webinar on Feb. 8 after noting that China’s authorities and markets have fallen short of the company’s expectations and pose a significant risk to minority shareholders. “Three or four years ago, I thought that they were becoming more westernised in their capital markets, but I don’t think that is the journey they are on,” Graham said. “The government has been fairly overt about that to say ‘We’ve got our way of …