AustralianSuper looks to offshore investment
Australia’s largest industry superannuation fund, AustralianSuper is looking to implement a deliberate offshore investment strategy.
AustralianSuper group executive product, brand and reputation, Paul Schroder has told Money Management’s sister publication Super Review’s Future of Superannuation Conference in Melbourne that $7 out of every $10 new dollars received by the big superannuation fund will be invested offshore.
He said the move was in line with earlier strategies adopted by AustralianSuper in the past, not least taking investment management inhouse – something which had saved members around $150 million a year.
Schroder said AustralianSuper was looking on how it could best serve members’ interests over the next 10 years and that offshore investing represented an important step.
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