Retirement
Industry fund making billion-dollar ‘bets’ on new tech
The CEO of an industry super fund has explained how the group will invest $1 billion of member funds in venture capital “bets”, including online mortgage lenders and nuclear fusion.
Industry fund making billion-dollar ‘bets’ on new tech
The CEO of an industry super fund has explained how the group will invest $1 billion of member funds in venture capital “bets”, including online mortgage lenders and nuclear fusion.
Appearing before a parliamentary committee on 21 November, Hostplus chief executive David Elia explained that the super fund has made a commitment of $1 billion towards venture capital (VC), of which $670 million has been invested to date.
“We think that in time, some of our largest company exposures will originate from our early VC investments in managers and funds such as Square Peg, Blackbird Ventures, Artisan, Carthona, the CSIRO Innovation Fund, Main Sequence Ventures and the Carnegie Innovation Fund,” the CEO said.
“We think that venture capital will certainly provide us with access to opportunities to investments that would not otherwise be available. Some of these are life-changing in terms of what we’re doing in this space, albeit we are obviously focused on delivering great investment outcomes for our members.”
Mr Elia noted that for the year ending 30 June 2019, the VC asset class delivered 21 per cent for Hostplus.
Deputy chief investment officer Greg Clerk explained that the $43 billion super fund’s connection through the venture capital program is via 40 universities globally and a multiple research institution such as the CSIRO and others.
“The kinds of investments we are in are things like Vaxxas, which is for needle-free vaccinations, which will enable us to deliver these without the protections that need be afforded needle-based treatments and the like,” Mr Clerk said.
Hostplus also has a stake in mortgage provider and neo-lender Athena Home Loans and nuclear fusion business Commonwealth Fusion Systems.
“If you accept the proposition that these new types of technologies, these disruptive technologies, will challenge the old-world economy, then we would argue that we have a fantastic hedge in place,” Hostplus CEO David Elia said.
“We’re actually taking bets with regard to some of those new emerging and disruptive technologies.”
Superannuation
Super reforms to save members thousands but should go further
The “Your Future, Your Super” reforms announced during the federal budget are heading in the right direction, with members potentially benefiting, an industry expert has said. ...Read more
Superannuation
Australia slips in global pension index
The Australian superannuation system has been rated at B, falling to fourth place, new research has revealed. ...Read more
Superannuation
Early super payments slow to under $200m
Less than $200 million was paid out of the super system in the second week of October, as the popularity of the government’s early release scheme looks to be slowing further following the release of...Read more
Superannuation
‘Impressive’ super erases most COVID-19 losses
Australian superannuation has erased most of the COVID-19 downturn following a positive September quarter, new research has shown. ...Read more
Superannuation
1.2m Australians lose in tax offset lag
The Treasury’s latest tax cuts will see more than 1.2 million low-income earners paying a higher rate of tax on their superannuation contributions, with funds arguing changing the tax rate could add...Read more
Superannuation
Could you be stuck in a poor-performing fund?
The government’s superannuation reforms to eliminate multiple superannuation accounts could have unintended consequences, with older Australians locked into financial decisions made by their teenage...Read more
Superannuation
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade. ...Read more
Superannuation
Why it is ‘cruel’ and ‘embarrassing’ not to raise the SG
Australian workers, who are bearing the brunt of the public decision to shut down the economy, could be “cruelly rewarded” for their sacrifice with a less dignified retirement, industry experts ...Read more
Superannuation
Super reforms to save members thousands but should go further
The “Your Future, Your Super” reforms announced during the federal budget are heading in the right direction, with members potentially benefiting, an industry expert has said. ...Read more
Superannuation
Australia slips in global pension index
The Australian superannuation system has been rated at B, falling to fourth place, new research has revealed. ...Read more
Superannuation
Early super payments slow to under $200m
Less than $200 million was paid out of the super system in the second week of October, as the popularity of the government’s early release scheme looks to be slowing further following the release of...Read more
Superannuation
‘Impressive’ super erases most COVID-19 losses
Australian superannuation has erased most of the COVID-19 downturn following a positive September quarter, new research has shown. ...Read more
Superannuation
1.2m Australians lose in tax offset lag
The Treasury’s latest tax cuts will see more than 1.2 million low-income earners paying a higher rate of tax on their superannuation contributions, with funds arguing changing the tax rate could add...Read more
Superannuation
Could you be stuck in a poor-performing fund?
The government’s superannuation reforms to eliminate multiple superannuation accounts could have unintended consequences, with older Australians locked into financial decisions made by their teenage...Read more
Superannuation
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade. ...Read more
Superannuation
Why it is ‘cruel’ and ‘embarrassing’ not to raise the SG
Australian workers, who are bearing the brunt of the public decision to shut down the economy, could be “cruelly rewarded” for their sacrifice with a less dignified retirement, industry experts ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
