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Unlisted assets, including infrastructure, continued to deliver solid returns for Australian superfunds but returns were down on 2017-18 as listed assets bounced back.
With growing scrutiny of rising debt levels in Australia’s state governments, the stage is set for another round of privatisations.
The country’s companies ‘are in reasonably good financial shape’, despite slowing economic conditions across the Asia-Pacific region, according to S&P Global Ratings’ Parvathy Iyer.
The two industry superfunds, which both have significant infrastructure commitments, hope to increase returns and lower fees for members.
The state-backed entity will commit up to A$100m for investments through Warada Capital, which will also be ‘actively seeking’ funds from other institutional investors.
Solar panels
Solar panels in the state can continue to be installed by trained labourers instead of licensed electricians as state regulations introduced in May would have required.
Wind farm Western Australia
Industry Super Australia said that its members ‘stand ready to help’ with the transition to renewable energy but called on the government to do more to help create the right conditions for investment.
Airports remain prized assets despite soaring values. We examine why that’s unlikely to change
Just 12% of respondents to a MinterEllison investor survey said regulatory and political uncertainty was the main barrier to investing in the sector, notwithstanding the lack of a federal energy policy.
The outlook for renewables is bright, despite the shift towards more market-based systems. But although governments might no longer need to provide subsidies, they still need to offer leadership.
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