Industry super funds get boost from infrastructure investment
Long-term stewards of infrastructure assets will inject $25 billion in capital expenditure investment into Australian infrastructure assets which will help build the value of these investments for industry superannuation fund members, according to IFM Investors.
The expenditure is expected to generate more than 50,000 new jobs over the next decade and assets include electricity distributor, Ausgrid, and international airports for Brisbane, Melbourne, Darwin, and Adelaide, as well as major seaports such as the Port of Brisbane, Port Botany, and Port Kembla.
IFM Investors chief executive, Brett Himbury, said the investment would drive strong and stable returns for industry super fund members.
“This ongoing capital expenditure is a result of the alignment between the long-term time horizon of superannuation money and major critical Australian infrastructure. The responsible stewardship of these assets by industry super funds and their partners protects and grows the retirement savings of members,” he said.
“These investments are an investment in the future value of these assets and will increase the productive capacity of the entire country.”
The investment will average over $2 billion per annum over the next decade, and will exceed $2.6 billion in 2020, 2021, and 2028.
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