AustralianSuper looks to offshore investment

Australia’s largest industry superannuation fund, AustralianSuper is looking to implement a deliberate offshore investment strategy.

AustralianSuper group executive product, brand and reputation, Paul Schroder has told Money Management’s sister publication Super Review’s Future of Superannuation Conference in Melbourne that $7 out of every $10 new dollars received by the big superannuation fund will be invested offshore.

He said the move was in line with earlier strategies adopted by AustralianSuper in the past, not least taking investment management inhouse – something which had saved members around $150 million a year.

Schroder said AustralianSuper was looking on how it could best serve members’ interests over the next 10 years and that offshore investing represented an important step.




Recommended for you

Author

Comments

Comments

Yep = Seems that Industry super funds no longer want to support Australian Jobs.
The new slogan can be "Industry SuperFunds believe overseas companies are the place to be for our members."

A courageous decision by the Trustees and Fund Managers of Australian Super in putting the retirement interests of it's members ahead of anything else. Waiting to hear the bleating from union officials on how this will not create higher wages or more jobs for unionists. At least not inside Australia. Well done Australian Super. I wish your overall investment strategies were clearer and more transparent. If they were I would be more than likely to recommend you more often to my clients.

Rebranding to "Un-Australian Super" then?

Add new comment