POWERED BY MOMENTUM MEDIA
UniSuper extends investment in infrastructure project
The superannuation fund for Australia's higher education and research sector, UniSuper, has announced an extension of its long-term investment in one of the major infrastructure projects, Sydney's Prospect Water Filtration Plant.
Under the terms of a deal, UniSuper would extend its partnership with Sydney Water Corporation and French owned waste management and water treatment firm SUEZ for a further 14 years from 2021 to 2035.
UniSuper bought a 49 per cent stake in the water filtration plant in 2001, partnering in a joint venture with SUEZ which owned the remaining 51 per cent.
According to UniSuper's head of property and private market, Kent Robbins, the agreement provided an opportunity to enhance UniSuper's position in a quality asset.
"UniSuper is attracted to the quality investment characteristics displayed by infrastructure," he said.
"Large scale infrastructure assets have what we term ‘fortress-like' characteristics, with their strong market positions supporting the generation of stable, long-term cash flows, making it a natural fit for superannuation funds with long-dated liabilities."
Under the agreement, the Prospect Water joint venture would continue to operate the plant 24-hours a day, filtering up to three billion litres of water per day, with the plant's general capacity to provide drinking water for up to 85 per cent of Sydney's population.
Recommended for you
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
In this latest edition, Anna Shelley, CIO at AMP, shares the fund’s approach to current market conditions and where it continues to uncover key opportunities.
The mega fund has announced a $2.2 billion investment in a leading data centre platform, bringing its global real assets portfolio to nearly $60 billion.
In this latest edition, Australian Retirement Trust’s head of global real assets Michael Weaver explains the fund’s approach to finding new opportunities as it surpasses $300 billion in funds under management.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
