AGEST Super is in the process of boosting its infrastructure and private equity allocations and is currently reviewing managers in the infrastructure space.
Michael Seton, AGEST chief executive officer, said the fund was looking to increase its infrastructure allocation to 6 per cent off a base of almost zero. “A lot of due diligence is required in those areas,” he said. Although international opportunities were also being reviewed, Seton said the infrastructure allocation would be mostly domestic. The $1.8 billion fund currently has a 5 per cent allocation to hedge funds and is also looking to make a 2 per cent allocation to private equity, which will push its entire alternative asset allocation to 13 per cent of total funds. “They are the areas we are boosting up,” Seton said.
17/10/2006
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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