Sinodinos reinforces investment objectives

superannuation-funds/self-managed-superannuation-funds/assistant-treasurer/funds-management/bonds/SMSF/federal-government/self-managed-super-fund/asset-classes/

10 March 2014
| By Mike Taylor |
image
image
expand image

The Federal Government has sent a further signal that it wants to see superannuation funds, including self-managed superannuation funds (SMSFs), utilised for infrastructure investment in Australia.

The signal has been sent by the Assistant Treasurer, Senator Arthur Sinodinos, who used an address to an industry function last week to suggest that the forthcoming Financial System Review to be chaired by David Murray could act as a catalyst.

"…David Murray's inquiry will be looking at some of those capital allocation issues as well, particularly in the life of the development of superannuation in Australia," he said.

Sinodinos said that while the Government did not want to mandate how those [superannuation] funds were used, the Government could create an environment which "optimises the use of that savings pool".

The Assistant Treasurer said there was a lot of debate around the extent to which superannuation was allocated and suggestions that too much was being directed towards equities rather than other asset classes.

"If we are looking to develop other asset classes, how do we do that? We talked before about retail corporate bonds. I'd look at the self-managed super fund sector which has now got a third of Australian's super savings. They're looking for infrastructure projects — retail infrastructure projects — so I'm keen to get ideas on how do we package that up," Sinodinos said. "Maybe when we solve the broader issue of how super funds can invest more in infrastructure assets, maybe out of that something will come."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND