POWERED BY MOMENTUM MEDIA
Morrison urges super infrastructure investment
There is nothing to stop Australian superannuation funds bidding for infrastructure assets such as NSW's Ausgrid, according to Federal Treasurer, Scott Morrison.
Speaking on radio, Morrison said both he and the Prime Minister, Malcolm Turnbull were frustrated that they were not seeing more of Australia's $2 trillion superannuation pool being directed towards such transactions.
In doing so, he suggested that industry superannuation funds were sometimes guilty of opting not to invest in particular assets for political reasons rather than on the basis of potential returns.
"There's nothing to stop them from going along and bidding today. For example, some industry funds won't allow their funds to be invested in coal shares. Now, that's got nothing to do with returns necessarily, that's got to do with politics and their view about those particular issues. It's not uncommon for super funds to take a position which isn't just about returns," Morrison said.
"I think Australians and the Prime Minister and I are frustrated that we're not seeing more of that $2 trillion in capital which is there in Australian superannuation savings, not lining up on these sorts of transactions."
"I would like to see them appearing in the next round of transactions," the Treasurer said.
Discussing the rationale behind some superannuation fund investments, Morrison said that some fund provided "an argument about returns when it suits them, and it's an argument about politics when it suits them".
"So, I think all Australians would like to see superannuation funds invest more in our own country, and in our own industries, and they've got the opportunity to do that," he said.
Recommended for you
As market volatility persists, some super funds are pivoting defensively, while others are strategically positioning to capitalise on emerging opportunities.
New data has shown a progressive deterioration in risk appetite among instos even prior to Donald Trump’s latest round of tariffs.
UniSuper has reached “peak investment” in US assets and is now preparing to reassess its exposures amid ongoing sharemarket volatility.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
