VicSuper, a Melbourne-based superannuation fund, hired Colonial First State Global Asset Management to invest A$100 million (US$88.7 million) in global listed infrastructure, according to a Colonial First State news release.
Peter Meany, head of Colonial First State's more than A$4 billion global listed infrastructure business, noted in the release that the market volatility of recent years has boosted interest in the “defensive nature” of the global listed infrastructure market.
Tarnia Puchlenko, a spokeswoman for the superannuation fund, couldn't immediately be reached for comment. The fund had A$10.8 billion in assets as of June 30, the close of its latest fiscal year.
As of that date, VicSuper allocated roughly 4.5% of its portfolio to infrastructure, with Hastings Fund Management Utilities Trust of Australia and IFM Investors roughly splitting a 2.3% allocation to Australian infrastructure and IFM Investors running a 2.2% allocation to international infrastructure.
