Chanticleer

NSW’s new $47b fund loads up on equities to chase returns

NSW’s TCorp will combine more than six funds into one big fund, and shoot for higher returns. It will lean on equities to do the heavy lifting.

Jun 18, 2024 – 7.48pm

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There is good news and bad news for equities investors in NSW’s decision to consolidate a bunch of investment funds and instruct its manager TCorp to chase higher returns.

Told it needs to aim for CPI plus 4½ per cent every year, TCorp will direct 55 per cent of its new $47 billion OneFund into equities (up from about 40 per cent under the former structure). That’s a solid whack.

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.