The Queensland Government's proposal to offer the Gladstone and Townsville ports for lease, along with the sale of other assets, will provide attractive investments for superannuation funds, according to the Association of Superannuation Funds of Australia (ASFA).
ASFA CEO Ms Pauline Vamos says these types of infrastructure projects can be a good fit for the investment needs of superannuation funds. In particular, as more fund members move into retirement and begin drawing down on their accounts, assets that deliver reliable income streams will become more attractive.
"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. The Queensland Government's focus on privatising assets may help deliver a range of suitable projects to superannuation funds, which stand ready and willing to invest today, as well as plan for future investments.
"There is an alignment between the interests of super funds, the community and governments. Most of the community are members of funds, so when assets are transferred into a fund's hands, they effectively remain owned by the community.
"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 freeing up of capital will also allow the Government to pay down debt and invest in new infrastructure projects, which will no doubt have long-term benefits for the people of Queensland," Ms Vamos concluded.
For further information, please contact:
Lisa Chikarovski, Media Manager, 0451 949 300.
ASFA is the peak policy, research and advocacy body for Australia's superannuation industry. It is a not-for-profit, sector-neutral, and non-party political national organisation, which aims to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy and industry best practice.