Australia’s $3.5 trillion superannuation industry says the successful passage of the government’s signature housing policy opens the door tobut that the viability of the asset class would come down to the scheme’s detail.
Cbus is the only super fund to so far commit money to the HAFF, however, and other funds have warned there are still significantIndustry Super Australia deputy CEO Matt Linden said the bill’s passage gave funds “much-needed certainty” about possible investments and the confidence to assess project pipelines.that the viability of the superannuation sector funding the HAFF would ultimately come down to its investment mandate.
“They also need to ensure there’s accessible and cost-effective entry points for the funds to invest, and there’s going to have to be some innovative thinking about scale.” Association of Superannuation Funds of Australia deputy CEO Glen McCrea said the HAFF’s passage was an important step towards improving housing supply, but superannuation funds also needed other measures passed to enable greater investment in the sector.