As part of the 2020-21 Federal Budget, the Australian Government announced the Your Future, Your Super package, a series of reforms designed to ensure Australia’s superannuation industry continues to deliver better outcomes for members. A key part of the proposal is annual performance testing of asset classes against listed benchmarks – in the case of infrastructure, the FTSE Developed Core Infrastructure Index.
Palisade fully supports the benchmarking of superannuation products and the monitoring of ongoing investment performance. Having said this we strongly believe that benchmarking unlisted infrastructure investments to a global, listed benchmark will discourage superannuation funds from investing in both the Australian market and in unlisted infrastructure opportunities more generally.
Please click here for Palisade’s submission as part of the consultation process.