AustralianSuper has committed a further $500 million to India’s National Investment and Infrastructure Fund (NIIF), lifting its total exposure to India across all asset classes to $3.3 billion as the nation’s largest superannuation fund deepens its investment in one of the world’s fastest-growing economies.
The latest commitment follows AustralianSuper’s original $240 million investment in the NIIF in 2019, which the fund said has become one of its best-performing infrastructure assets for members.
Established in 2015, the NIIF was created to attract global investors to support infrastructure development across India. AustralianSuper chief executive, Paul Schroder, will be attending the Australia-India Annual Leaders’ Summit this month to discuss the new investment.
AustralianSuper chief investment officer, Shaun Manuell, said the fund’s experience with the NIIF had reinforced its confidence in the partnership.
“AustralianSuper’s investment in the NIIF has been one of our most successful partnerships and that’s why we’re excited to invest again to help drive returns for members,” Manuell said.
He added: “Our experience with NIIF demonstrates what can be achieved when long-term capital is combined with visionary policy, trusted institutions and strong partnerships.”
Manuell said policy consistency had been an important factor in the decision to increase the fund’s allocation to India.
“India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully,” Manuell said.
He added: “AustralianSuper is making a second investment in the NIIF because those fundamental strengths are still there and we see the potential for more returns for members.”
Before the latest commitment, AustralianSuper had approximately $2.8 billion invested in India across infrastructure, equities and private markets.
