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.
AUTHOR
Oksana Patron
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
Frontier Advisors has bolstered its Japanese footprint through a partnership with the $350 billion asset management arm of Nippon Life Insurance Company.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
