The $10 billion Housing Australia Future Fund will likely offer investors social infrastructure-like returns – at a net 8 per cent to 12 per cent rate – according to Conscious Investment Management chief investment officer Matthew Tominc, who last year set up a $200 million fund to tap the nascent sector.

The scheme to develop new social and affordable housing offered a way for institutional investors to invest in a predictable, inflation-pegged income stream that would ensure a full return over 25 years and not depend on sale of the asset at the end, Mr Tominc said on Thursday.