A group of Australia’s largest industry superannuation funds, alongside their Canadian counterparts, have signed an MoU as part of the Canadian-Australian Pension Funds Investment Initiative launched today.
As part of the landmark initiative, Australian and Canadian pension funds will cooperate to unlock greater pension capital investment in both countries.
The initiative was launched today by leaders of Australian and Canadian pension funds and aligned investment managers in the presence of the Right Honorable Prime Minister of Canada, Mark Carney, the Canadian Minister of Finance and National Revenue, François-Philippe Champagne, and the Hon Dr Daniel Mulino MP, Assistant Treasurer of Australia.
The MoU supports Australian industry super funds, Canadian pension funds and their investment organisations to facilitate dialogue with governments on policy barriers and associated solutions to improve the business environment for investment in each jurisdiction and to unlock greater long term capital for private investment on behalf of millions of working and retired people.
Signatories also commit to building awareness of investment models that leverage the expertise of long-term and reliable pension capital investors, with the objective of delivering risk-adjusted returns for working and retired people and value for investee companies.
With a shared heritage, open and resource-rich economies, strong credit worthiness, and reliable and transparent legal institutions, we believe there is fertile ground to bolster opportunities for investment between Canada and Australia.
Canada and Australia have globally significant and growing pension systems (the second and fourth largest in the world respectively). By 2040, assets under management are expected to reach A$11 trillion (CAD$10t) in Australia and A$9 trillion (CAD$8t) in Canada.
The Canadian - Australian Pension Funds Investment Initiative signatories are:
Australia:
- Australian Retirement Trust
- AustralianSuper
- Aware Super
- CareSuper
- CBUS Super
- HESTA
- Hostplus
- IFM Investors
- Rest
Canada:
- Alberta Investment Management Corporation (“AIMCo”)
- British Columbia Investment Management Corporation
- La Caisse
- CPP Investments
- HOOPP
- Investment Management Corporation of Ontario (“IMCO”)
- OMERS
- Ontario Teachers’ Pension Plan
- PSP Investments
Contact details:
For media queries, please contact: Patrick Lane – 0437 884 010 | [email protected]
