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Baird and Hockey to host Superannuation Forum

13 March 2014
The NSW and Commonwealth governments will launch an initiative set to mobilise Australia’s $1.8 trillion in retirement savings in a bid to boost the infrastructure across the country.

NSW Treasurer Mike Baird and Federal Treasurer Joe Hockey will co-host a Forum on Superannuation and Infrastructure in Sydney in mid-2014.

The Forum will bring together representatives from major superannuation funds, investment institutions and industry groups and regulators to discuss barriers to greater investment in infrastructure by super funds.

Mr Baird said that whilst Australian super funds are heavily invested in growth assets; with approximately half of local funds investing in equities, only around 6% is invested in infrastructure.

Mr Baird also said, “There is a potential synergy between superannuation and infrastructure that we need to exploit if we are going to address the nation’s massive infrastructure backlog, which Infrastructure Australia has put at around $300 billion”.

Mr Baird said he was keen to hear from the superannuation industry to learn about any internal barriers that could inhibit deeper investment in infrastructure projects.

“I’m delighted to join with Joe Hockey in an important initiative that, we hope, will break down at least some of the barriers towards increased private investment in the sector”, Mr Baird added.

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