Industry fund body representing $200 billion in funds under management supports the Federal Government's $20 billion infrastructure fund.
Industry Super Network (ISN) has backed the Federal Government's budget initiative to establish an infrastructure fund.
The Government will plough an initial $20 billion into the Building Australia Fund.
"This fund will help finance the current shortfall in critical economic infrastructure in transport and communications, such as road, rail, ports and broadband," Treasurer Wayne Swan announced when handing down the budget on Tuesday.
ISN executive manager David Whiteley said the decision showed national leadership.
"The Government is committed to building Australia for current and future generations," Whiteley said.
"The Government has also estimated that it will need $300-400 billion by 2020 so they will need private investment. Industry superannuation funds hope to be part of that."
The Government was planning to fast-track infrastructure feasibility studies on high-priority projects at a cost of $75 million in 2007/08, Swan said.
"This budget is about building our society. Such themes are something that will always get support from industry funds," Whiteley said.
ISN represents 40 industry superannuation funds that collectively have about $200 billion in funds under management.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
Catholics revamp fixed interest »
Industry superannuation fund the Catholic Superannuation and Retirement Fund (CSRF) has revamped its fixed income portfolio.
Mercer backs alternatives »
Mercer has awarded $34.15 million in mandates to Tactical Global Management (TGM) and Lazard Asset Management to invest in alternative assets.
Salaries for planners, paraplanners and business development managers (BDM) have once again been on the rise, according to the latest figures.... read more »
