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
APRA’s executive director has urged super funds to strengthen leadership, operational resilience and member focus as public trust in the system faces fresh challenges.
The firm has appointed Aware Super’s Damian Graham as group chief investment officer to unify its life and funds management teams.
Ethical super fund Australian Ethical has announced the appointment of Anthony Lane as chief operating officer.
The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
211.16 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
121.06 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Smarter Money Long-Short Credit Investor USD
68.96 3 y p.a(%)
