ASFA welcomes Queensland asset sell-off
The Queensland Government's plan to lease Gladstone and Townsville ports and sell other assets in its budget is a good avenue for superannuation fund investments, according to a super body.
The Association of Superannuation Funds of Australia (ASFA) CEO Pauline Vamos said these types of infrastructure projects are apt as more fund members approach retirement and start drawing down on their accounts.
"Super funds have a strong appetite and a solid history of investing in infrastructure in circumstances where the risk-return profile of the asset is a good match for the fund's investment strategy," Vamos said.
"Importantly, as funds look to achieve long-term stable returns, this will help ensure that assets are managed responsibly and for the long-term benefit of the community."
The Queensland budget outlined plans of asset sales and private sector investment of $25 billion to bring down the state's debt to $55 billion.
It is looking at 99-year leases for the Gladstone Port Corporation and the Townsville Port, including the Mount Isa freight rail line.
The government is looking at assets such as CS Energy, Stanwell and the SunWater industrial pipelines.
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