The launch of the National Infrastructure Construction Schedule (NICS) will do little to help superannuation funds allocate money to infrastructure projects, according to the Association of Superannuation Funds of Australia (ASFA).

"While the establishment by the Federal Government of the National Infrastructure Construction Schedule is a welcome measure, the schedule is in itself not an indicator that the investment industry will have a role in [the] project," ASFA chief executive Pauline Vamos said.

"Part of the problem that ASFA has previously identified is that superannuation funds' participation in infrastructure has in the past been regarded as a tap that can be turned 'on and off'.

Vamos said ASFA's argument is that there is a need for "certainty" around the role of investors in infrastructure projects.

"This is particularly important in respect to larger infrastructure projects where superannuation funds need to plan future investments if they are to be accommodated in their overall portfolio due to the 'lumpiness' of such investments," she said.

The schedule was launched earlier this month and lists details of all government-initiated economic and social projects in Australia with a value of $50 million or more.

The schedule development was aimed at addressing the lack of comprehensive, complete and accessible information about the projects pending, as well as those coming down the pipeline, in order to remove major impediments to the proper functioning of the market, the Minister for Infrastructure and Transport Anthony Albanese said.

But Vamos said the schedule made little effort to incorporate the private sector.

"When you have a look at the source of funding for each listed project it is the Commonwealth and the relevant state government," she said.

"There doesn't seem to be any intention to have private-sector financing in the projects listed.
"It's more a list for the constructors than project financiers - so the list is not particularly relevant to superannuation funds and the like."

A number of superannuation funds and asset managers - including Hostplus, CBus and Industry Funds Management - have indicated in the past that they have appetite for unlisted investments, but that there is too little certainty about the pipeline of investment-grade projects.