POWERED BY MOMENTUM MEDIA
Look abroad for investment opportunities: Jones
Assistant Treasurer, Stephen Jones, has suggested superannuation funds invest in neighbouring countries like Singapore and Indonesia.
The volume of assets in super was expected to grow from $3.4 trillion currently to $5 trillion over the term of the current Government.
This needed to be invested in other areas than Australian equities, Jones said, and super funds were already taking action by investing in renewable energy and infrastructure.
However, another option would be investing in countries near to Australia such as Indonesia and Singapore.
This would allow funds to align national interests with the best interest of super fund members.
“But in our near region we’ve got the pension funds of other countries investing in Indonesia, in Singapore, in the Pacific whilst Australian pension funds are relatively absent. So, it must strike us as a little bit strange – it certainly does our neighbours – to know that we’ve got the Canadian pension funds who are more deeply invested in Indonesia or Malaysia than they are – than Australian pension funds are.
“So, what the government of Australia is saying, what the Albanese Labor government is saying is let’s get our heads above the desk and look abroad.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Removing barriers for superannuation funds to transition to modern investment products would result in members retiring with cumulatively $16 billion more by 2050, according to an FSC report.
Fund managers believe the move to internalisation has meant a greater focus on internal teams and less on the chief investment officers, according to Frontier, as it identifies internalisation as a challenge for them.
Months into potential merger talks at the request of significant shareholders, the two industry super fund-owned firms have now offered an update on the state of affairs.
Over 65 per cent of flows into the $4.3 trillion funds management industry come from superannuation, according to a report by KPMG and the FSC, but unintended consequences have arisen from the performance test.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Hills International
85.92 3 y p.a(%)
2
Acadian Global Equity Long Short Class A
33.38 3 y p.a(%)
3
Acadian Wholesale Global Eqty Long Short
33.02 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.66 3 y p.a(%)
5
Argonaut Natural Resources Ordiry Fully Paid Dis AUD
30.70 3 y p.a(%)
