The Catholic Superannuation and Retirement Fund (CSRF) has moved to increase its property exposure, awarding mandates to Lend Lease and Trinity and restructuring its listed property exposure.
Lend Lease emerged as the major beneficiary, picking up mandates totalling $52 million, spread across its Core Plus Property Fund ($25 million), its Industry Property Fund ($25 million) and its Retail Property Fund ($2 million).
Trinity has been awarded $15 million within its Opportunity Fund.
Commenting on the move, CSRF chief executive Greg Cantor said that it was aimed at increasing investment diversification while reducing risk.
He said in addition to the mandates, CSRF had restructured its listed property sub-asset classes by allocating 50 per cent of its listed property exposure to international mandates, with AMP and Investco each receiving $36 million,
Cantor said the fund also had two Australian listed property managers in Legg Mason and Renaissance, each with similar amounts.
“Overall, the fund has $144 million in the listed property sector, with 25 per cent allocated to each manager, equally divided between Australian and international assets,” he said.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
Add new comment