CFS announces direct infrastructure investments
Colonial First State (CFS) is launching new investments in direct infrastructure assets for its MySuper First Choice Lifestage funds.
The company had made initial allocation to infrastructure assets in Australia, the UK, Portugal and New Zealand which were managed by CFS Global Asset Management.
Previously CFS only invested in listed infrastructure securities, but with FirstChoice Lifestage which holds in excess of eight billion in assets, the company said the portfolios had achieved sufficient scale to allow for an investment in direct assets.
CFS’ head of investments, Scott Tully, said: “The allocation to direct infrastructure is in the portfolios designed for younger members.”
“These members have a long investment time horizon – that is, at least 20 years until retirement – and they are well placed to make long term investments in long term assets with less liquidity.”
CFS said it had a five per cent target allocation to direct infrastructure for younger members which it would look to fully invest over time.
FirstChoice Lifestage is only offered in CFS’ superannuation products.
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
