Pension fund AustralianSuper to open NY office, hire in London in offshore push
AustralianSuper, the country’s largest pension fund, plans to open an office in New York next year and expand its operations in London as part of a strategy to invest in and directly manage more offshore assets, Chief Executive Officer Ian Silk said.
The fund, projected to reach A$300 billion ($207.72 billion) in assets in five years, is forecast to increase its allocation to overseas investments from about half to about 60% by 2024, Silk said at a business lunch organised by the Australian-Israeli Chamber of Commerce in Sydney on Friday.
“The next wave of change (for AustralianSuper) is going to be a much greater allocation offshore and a much greater direct investment,” Silk said.
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