Industry super 'godfather' says companies, not government, should direct investment
IFM Investors founder and industry super pioneer Garry Weaven says local companies are missing a huge opportunity to put Australian retirement savings to work.
Jim Chalmers’ proposal last week to have the Future Fund consider 'national priorities' when managing its $230 billion in sovereign wealth sparked a fast and fierce debate over the politicisation of retirement dollars and their role in nation-building.
Economists, think tanks and other wonks positioned themselves on opposite sides of abruptly drawn battle lines, weighing the pros and cons of a potential policy shift towards investing in housing, infrastructure and the net-zero transition.
Speaking with Capital Brief, IFM Investors founder and former chair Garry Weaven said that super funds could play a significant role in undertaking corporate-led “transformational” investments — without compromising returns or requiring government intervention.
"There is real merit in exploring capital partnerships where institutional money co-invests in transitional or transformational programs that will be necessary in so many industries," said Weaven, who is widely regarded as the “godfather” of the industry super movement.
