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For investments, Aus superannuation delegation to visit India

Posted by BrickAcres on February 23, 2016
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To explore investment opportunities Australian superannuation
funds industry is placing its bets on India with a delegation
expecting to visit the country later this year, a media
report said today.

“There is a real enthusiasm to look internationally and to
look at India. They want to look at it and they want to
understand it,”London-based private equity fund Greater
Pacific Capital’s CEO Ketan Patel, who was on a visit to
Australia, said after his meetings with Superfunds sector.

“There was a contrast with their views of India in the past
and their views now. In the past they were worried about the
bureaucracy, the corruption, the ease of doing business and
its tax affairs. They can see this new government is
addressing each of these.

“They know it can take time to assess investment decisions
but if they take too long, it will be priced into the assets
in India,” Patel said.

The superfunds sector was now considering a delegation to
visit India later this year, The Australian reported today.

Finance Minister Arun Jaitley is planning to visit Australia
as part of the ‘Make in India’ programme in April and his
brief will be to invite superfunds to invest in India, the
report said.

Jaitley’s visit will be supported by private equity fund
Greater Pacific Capital that has invested more than USD 500
million in India in over the past decade.

“People were wondering if areas like infrastructure and real
estate in India were organised enough for them to invest in,”
Patel said.

It was believed that Patel had met with the likes of the
Future Fund, Cbus, Hostplus, MTAA and others,the report said.

He said super funds needed to be cautious about placing
India in the emerging markets category.

“There is understandably caution from super funds towards
emerging markets. But that caution is stopping Australia
placing its bets into India. It is worth segmenting India
from these emerging markets,” Patel said, adding that India
is at the ground floor of where China was a decade ago.

For the first time, India is recognising Australia’s
potential as a strategic partner, he said.

Currently, Australia and India are actively negotiating the
free trade agreement. Relations between India and Australia
have grown stronger in the last few years with both the
countries signing some important deals, primarily the
civilian nuclear cooperation agreement, which opens doors
for the much-needed uranium supply for India’s nuclear
reactors.

Superannuation refers to the arrangements people make in
Australia to accrue funds to replace their income in
retirement.

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