Daniel Kemp
PSP’s first investment in Australia’s cattle sector was its stake in HCA, which is disposing the Mt Cooper aggregation to focus on organic production.
Raphael Arndt will move up from CIO to take on Future Fund’s top job and the sovereign wealth fund will soon launch a search for his replacement in the investment role.
The firm’s first regional Australia-New Zealand fund will convert from a 10-year closed-end fund in a move that could be replicated in its other funds.
The coronavirus-induced recession has prompted concerns the country could emulate New Zealand’s restrictive and lengthy approvals process in the long term.
With current annual output estimated at A$80m, a focus on increased processing capacity and investment in new plantations could lead to industry growth.
Future Fund recorded a -3.2% return for the quarter to end of March 2020 and has not yet revalued its unlisted assets.
Regulatory risk and climatic conditions are the culprits behind a drop in the value of water entitlements in the southern MDB, the first in four years.
Riparian Capital Partners managing partner Michael Blakeney said there is ‘no shortage of opportunities’ for investors but some processes may take a longer to execute due to current restrictions.
Estimates suggest that anywhere between A$27bn and A$50bn could be withdrawn from superannuation funds, but there should be adequate liquidity in the system to cope.
Federal report finds water inflows to the MDB have reduced because of climate change, leading to a decline in the reliability of general security water entitlements in some parts of the system.
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