Hostplus’ $10b property bomb is a warning for all Australian investors
Lendlease and Mirvac’s battle for three funds is about more than $10.5 billion in assets. It’s about who gets to invest the whopper retirement savings pool.
Australia’s big superannuation and sovereign funds are flexing their muscles – and their asset managers are getting whacked.
First, we saw it in equities and bonds, as super funds withdrew mandates, cut fees, turned to cheaper passive funds and set up their own in-house investment and trading teams to get by. Now, it’s rolling through infrastructure and real estate.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
