Unless you are in one of these three funds, your super withdraws this year
The head of investment at the $82 billion hotel industry fund, Sam Sicilia, said his team’s 2015 decision to dramatically reduce the fund’s exposure to bonds to near zero “paid off big time”. While he admits Hostplus has the built-in advantage of a young member base (average age 37) and multiple redemptions, allowing it to “play the long game”, he said the rapid returns in interest rates had put some competitors on the wrong foot. “Anyone who buys bonds for protection is thinking about the financial 101 rather than the interest rate environment,” said Mr Sicilia AFR Weekend. ‘Back, back, back’ Hostplus continues to duplicate unlisted infrastructure assets such as airports, seaports and bridges, said Sam Sicilia. These investments have been criticized for being difficult to sell, having non-transparent valuations and alleged political motivations beyond financial gain. But the portfolio manager said he would not apologize for e...
