They say they can still meet their ambitious objectives of beating inflation by 3-4 per cent and that they may even make money as previously expensive asset classes cheapen.
Superannuation fund CEOs say their funds can still meet their ambitious objectives of beating inflation by 3-4 per cent even asUniSuper CEO Peter Chun said there were not “any potential challenges” to his fund meeting the targets. Aware Super CEO Deanne Stewart pointed to the industry’s embrace of inflation-linked alternative assets, and AustralianSuper CEO Paul Schroder to his fund’s defensive shift to fixed interest assets as justification for their confidence.
“We like the fact infrastructure provides that diversification and the potential for linkage to CPI or inflation as it builds some inflation protection into the portfolio. Like most industry super funds, UniSuper has built up its exposure to inflation-linked assets such as toll roads – it is one of Transurban’s largest shareholders – partly to provide a hedge against soaring rates.
This meant assets were priced more attractively and enabled the fund to make better decisions and access better investment opportunities. AustralianSuper positioned its portfolio defensively anticipating slower economic growth and peaking interest rates, reducing the level of its investment in growth assets and increasing fixed interest assets in its balanced option.
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