Super funds should consider investing in residential property, according to the ACTU.
The Australian Council of Trade Unions (ACTU) has called for the superannuation industry to invest in affordable housing programs.
Superannuation funds should support investments in the shared equity market, ACTU president Sharan Burrow said.
"A shared equity portfolio provides a well-diversified long-term exposure to the residential property asset-class. Superannuation funds, with their long-term liabilities are immediately suited to invest directly," she said.
Industry superannuation funds are interested in housing affordability schemes, however, any move must ensure that fiduciary obligations are also met, according to the Industry Super Network (ISN).
"If the deal [housing affordability scheme] was structured in a way that achieves the policy objectives of improving the retirement savings of members then industry funds will support such an initiative," ISN executive manager David Whiteley said.
The ACTU believes investing in housing affordability schemes will also help superannuation fund members.
"Key workers in major metropolitan markets are increasingly priced out of home ownership, and their aspirations disappointed. These same workers are a key constituency of our super funds," Burrows said.
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