Industry superannuation funds Hostplus and Cbus have beefed up their investments into infrastructure, extending existing mandates with investment manager Industry Funds Management (IFM).
Hostplus chief investment officer Sam Sicilia said Hostplus had increased its mandate to IFM's Australian Infrastructure Fund (AIF) to $50 million.
"The AIF is a well-run fund, it is low cost and they act in the interest of members. We fully support their ability to take on the additional allocation to this asset class," Sicilia said.
Cbus has also extended its existing mandate to AIF to $50 million.
"They are existing investors and they are making an additional commitment to the fund," IFM executive director of client services Debora Jackson said.
The value of the AIF was $3.4 billion at the end of September.
Jackson said there were currently 21 investors in the fund.
