Register  
Future Fund builds Aust infra exposure
Tuesday, 27 March 2012 11:50am

Future Fund has purchased 35 million shares in toll road operator Transurban for $192.7 million, to hold 6.78% as the fund continues its build its exposure in Australian infrastructure.

Purchased through infrastructure fund manager RARE Infrastructure, the Future Fund confirmed to Financial Standard that it had been building its holding in Transurban since December through the activities of its external managers.

A spokesperson for the Future Fund said exposure to Australian infrastructure remains attractive.

"Australian infrastructure is attractive to the Future Fund. Our 2010/11 annual report showed that 40% of our infrastructure investments are in Australia and we expect to continue to carefully build our exposure to infrastructure," said the spokesperson.

On March 20, fund manager CP2 sold a 7.86% stake in Transurban through a fully underwritten transaction with UBS AG. Prior to this, CP2 managed a combined 12.57% stake on behalf of four global institutional investors.

Syd Bone, managing director of CP2, said the assets had attractive long-term investment characteristics with a high-quality portfolio of toll road assets but their clients were rebalancing their portfolio.

"This block trade achieves a portfolio rebalancing for two of our clients who had significantly increased their long-term exposure to Australian toll roads late last year when we acquired ConnectEast," he said.

Following the transaction, two CP2 clients have a continuing investment in Transurban. CP2 manages money for overseas pension and sovereign wealth funds.

Blogs
Follow the industry experts.
Christopher Page
Christopher Page
Managing Director

It needs to be said, most advisers are great advisers
Emotions are running high among financial advisers and it's not surprising. Over the past year, but especially over the last few weeks ...read more
 
Benjamin Ong
Benjamin Ong
Chief Economist

Reflation, rotation and the taper
'Tis being my final type (drivel, to some gentle readers) for the year, we'll take a look back at the 2013 that was to seek the lessons ... read more
 
Alex Dunnin
Alex Dunnin
Director of Research & Editorial Services

We need leadership, but whose?
What do you call a leader with no followers? Just someone out taking a walk. Financial services is an odd industry sector in that ... read more
News Search   
VideoBrought to you by
Platinum Asset Management
Reflecting on more than three decades in the industry, Platinum Asset Management managing director Kerr Neilson says one of the changes in the industry has the been the erosion of the information advantage ... Watch video
Who wants to be a RockStar 2014 Highlights
Count's Chris Mekhail was crowned 2014 Rockstar this year for his soaring rendition of Swedish House Mafia hit 'Don't You Worry Child' at the annual Who wants to be a RockStar event organised by the Finance ... Watch video
AMP Capital Australian Equity Concentrated Fund
We invite you to watch our latest video program on FSiTV featuring AMP Capital's Co-Head of Australian Fundamental Equities Gian Pandit, as interviewed by Mark Smith, deputy editor of Financial Standard. In ... Watch video
MAX 2014 Highlights
The annual MAX forum places all the movers and shakers in financial services when it comes to sales, marketing and distribution. Find out the recipe of those who are taking the lead. Watch the video n ... Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
JUL
24
AUG
06
FSC Annual Conference 2014 - Accelerate
13
Equities Forum
14
Alternative Investments 2014 Conference
26
Best Practice Forum: Managed Accounts
SEP
10
Risk and Liquidity Forum
News
Bites

$245 (inc GST) for 1 year
 
 
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something huZTz2is