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After a change in the rules allowed members to withdraw almost A$16bn from their accounts, We investigate whether the sector is able to absorb the shock.
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Senator Jane Hume, assistant minister for superannuation, argues that the early super withdrawal scheme has gone ‘exceptionally well’ to date with only 0.5% of the whole system’s assets withdrawn.
The A$52bn superfund has replaced outgoing head of infra Diana Callebaut, who left to join NSW Treasury Corporation earlier this year.
Estimates suggest that anywhere between A$27bn and A$50bn could be withdrawn from superannuation funds, but there should be adequate liquidity in the system to cope.
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First Super CEO, Bill Watson, says investors have profited handsomely from regulated assets and need to heed the complaints they receive.
Troy Rieck, the superfund’s newly appointed CIO, talks fees, an increase in co-investments and debt commitments, and why he ‘doesn’t care’ about the definition of infra – as long as it’s a good investment.
Australian infra head Michael Hanna says the capex spend - 'one of the biggest across the Australian economy over the next decade' - is ‘very appealing’ due to high valuations for core infra.
Brisbane, Queensland
The combined entity would have more than A$180bn of AUM and be larger than the country’s current largest fund, AustralianSuper.
Sydney skyline
Unlisted assets, including infrastructure, continued to deliver solid returns for Australian superfunds but returns were down on 2017-18 as listed assets bounced back.
The fund will invest $70m immediately in the company’s existing portfolio of six metropolitan data centres, with a further $45m available for future co-investments.
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