Australian super fund eyes Europe, U.S. expansion
Bloomberg
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Aware Super will grow in coming years to be able to manage up to A$300 billion ($230 billion), a drive that could see Australia s second-largest superannuation fund open offices in Europe and the U.S. in pursuit of more investments overseas.
The A$140 billion fund could double its staff in a range of roles from investments to tax and compliance, said Chief Investment Officer Damian Graham. The firm is trying to lower its cash pile by buying property and infrastructure assets, he said Monday. We want to be prepared so that we ve got the capacity and capabilities internally to be able to manage A$200 or A$300 billion, and that does suggest we will need to be sourcing more of our investments around the world, Mr. Graham said. We would imagine it s a European office and a U.S. office in the next few years, subject to support from the firm s board, he said.