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
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
Rest has expanded its portfolio of renewable energy infrastructure by supporting a Victorian solar farm and battery project.
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
36.96 3 y p.a(%)
3
GAM LSA Private Shares AU I
34.22 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
VanEck Video Gaming and eSports ETF (AU)
28.89 3 y p.a(%)
