Fund CIOs say private assets offer diversification and performance benefits, amid predictions the ASX is on track to shrink for the first time since 2005.
But despite the $3.5 trillion sector beingas they outgrow the local bourse faster than anticipated, funds said they were still open to privatisations because of the long-term returns private assets could bring members.
“We’re unquestionably open to taking part in a privatisation where we see compelling long-term value,” Aware Super chief investment officer Damian Graham said, pointing to the fund’s purchase and delisting of digital infrastructure business, Vocus Group, alongside Macquarie in 2021 as proof.He said direct investments in private outfits, such as buying VicRoads and British build-to-rent company Get Living, were “attractive opportunities” to drive returns for members.
“Taking a broader view, the shift of companies from public listing to private ownership is a global trend and there are benefits for equities investors from takeover premiums.”She said the fund was “open-minded” on whether it sought private or listed assets, as the approach that would “generate strong, sustainable long-term returns for members” depended on context.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: ASX flat; energy stocks rallyShares flat; Cathie Wood speaks at Morgan Stanley summit; local three-year note yield rises to highest since 2012; Enero tips revenue boost; Air New Zealand trading update. Follow updates here.
Read more »
Super funds looking elsewhere as they outgrow shrinking ASXThey are instead looking at global equities and unlisted assets for diversification and superior returns, fund CIOs say.
Read more »
ASX LIVE: GDP expands 0.2pc in Q1, misses forecastsShares rise; Pacific Edge craters 70pc; PolyNovo surges; Champion Ore flags delays in Quebec; Brookfield consortium lodges Origin bid with ACCC; Viva Energy expects losses due to repairs. Follow here for more updates.
Read more »
ASX to slip, tech tumble drags on NasdaqAustralian shares are set to edge lower. Alphabet, Amazon and Microsoft reversed. Oil lifts energy sector. Bitcoin struggles.
Read more »
ASX 200 finished the day down on ThursdaySky News Business Reporter Edward Boyd says the ASX 200 finished the day down on Thursday.
Read more »
ASX to rise, Nasdaq leads New York higher, $A tops US67¢Australian shares are set to open up. Gold, oil, iron ore advance. Tech stocks renew rally, pacing Nasdaq gains. Bitcoin steady.
Read more »