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The $124 billion super fund is pretty proud of its direct property portfolio, which now includes 66 acres of prime development land once used to manufacture dynamite. But it doesn’t want to take on the risks that come with heading overseas.
A coalition of domestic and international pension funds has bought one of Australia’s largest private forest management companies in a big vote of confidence for natural capital assets.
The $120 billion fund is making moves to shore up its property portfolio while also consolidating its sustainable investment credentials through a tie-up with NorthStar Impact as a specialist external listed equities manager.
UniSuper’s pioneers of internalisation have set up their own firm providing investment management and advisory services to superannuation funds as competition picks up and the need for a helping hand grows.
Australia’s largest super funds are casting a close eye over their property and infrastructure allocations amidst challenging market conditions, according to new research from J.P Morgan. And while investment internalisation continues to gather pace, not all funds are sold on its worth.
A rethink of the classic 60/40 portfolio and the need to generate consistent income are driving global pension funds deeper into private debt. But this “best in a generation” vintage probably won’t last.
UniSuper’s mandate to Revolution Asset Management shows how important private debt is becoming to super funds as their member base matures. It also has its roots in the merger with Australian Catholic Super.
UniSuper has added to its private markets team as it focuses its efforts on its infrastructure and nascent venture capital capabilities.
“We had the courage to stick with our investment strategies,” ACS CIO Michael Block tells ISN. “Often what happens with a strategy that doesn’t work is you cut and run at the wrong time. We were lucky enough or clever enough or brave enough that that didn’t happen, and our members reaped the benefit this year.”
UniSuper is “scouring the domestic market” to build out its unlisted investment portfolio. And as a signatory to the new Affordable Housing Accord, it’s investigating the YFYS benchmark risk of nation-building.