Super funds housing investment ‘not a subsidy’, IFM says
IFM Investors chairwoman Cath Bowtell has highlighted the commercial basis of the fund manager’s plans to invest money for Cbus Super, CareSuper, Hostplus, Rest in social and affordable housing, rejecting any notion the move went beyond the industry super funds’ core purpose.
Ms Bowtell said the industry super-owned platform IFM’s plan to provide debt financing for community housing providers (CHP) in the tender round under way for financing from the federal government’s Housing Australia Future Fund (HAFF), was to get a risk-adjusted return on a largely derisked investment. The investment could potentially stretch into hundreds of millions of dollars.
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