Michael Quelch
“We’ve been pretty bullish on tech for a long time, it’s one of those thematics that looks seemingly obvious and works.”UniSuper was stung in the 2021-22 financial year in the great tech wreck – the superannuation sector as a whole delivered negative returns – and Mr Pearce said it had sold off some of its holdings in “YUCs” to reduce its exposure slightly.
But while UniSuper’s property portfolio returned slightly negative returns for the financial year, strong returns for industrial real estate and rental growth in retail investments helping offset increased capitalisation rates largely offset the decline in office values. He said “capital shootouts” over unlisted investments such as infrastructure assets had ended, with the super fund finding itself the only bidder at the table for some acquisitions.