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Super keeps infrastructure afloat but transparency needed
Public/private partnership (PPP) development is crucial to future infrastructure projects in Australia but greater transparency around funding is still required.
Speaking at an Association of Superannuation Funds of Australia (ASFA) lunch in Sydney, ING Investment Management’s head of institutional business, Andreas Faeste, said that while the PPP model had already been very successful in generating infrastructure, there was still an issue around how funds found their way into the accounts of super fund members.
There have already been public calls for greater transparency and a greater alignment of interests to make sure stakeholders were adequately rewarded for pursuing those sorts of opportunities, he said.
ASFA chief executive Pauline Vamos said that contributions from superannuation funds to major infrastructure projects were growing. The arrangement could now virtually be considered a public/private/public partnership, she said.
Keynote speaker and former NSW premier Bob Carr spoke at length about the importance of infrastructure developments to the growth of the state, and the importance of private funding in allowing those developments to proceed.
Although people criticised the tolls in place on many of Sydney’s major roads, they were the means of returning the investment to the private companies that built the roads, without which much of this major infrastructure would not exist, he said.
AUTHOR
Mike Taylor
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