‘Huge news’: Australian superfunds to invest $19.2 billion in British energy projects

The UK’s High Commissioner to Australia Vicki Treadell says plans for Australian superfunds to invest $19.2 billion in British energy projects is “huge news” as the UK needs foreign investment for its “ambitious plans” to transform its economy.

IFM Investors and Aware Super made separate pledges to the British government on Monday at UK Prime Minister Rishi Sunak’s Global Investment Summit.

“IFM, who represent a number of [Australia’s] superfunds, are committing, with their partners, to a £10 billion investment overtime in British opportunities,” Ms Treadell told Sky News Australia.

“We need foreign investment, we need private capital, to go into the ambitious plans we have for transitioning our economy.

“The government can’t do that on its own; it needs to bring private sector capital into the equation and that’s what this IFM deal represents.”

[KIA-MIA-POW]

The instant "off shore wind power" was mentioned that should be the moment intelligent folk should inform their funds managers not to invest.

[kellyco]

If it’s all invested into renewables people’s super will plummet in price !

[ricky]

The big green lie...
Money to politicians "mates"

[MrBigbangbuzz]

Name the funds .. I’m not investing in that

[KIA-MIA-POW]

Now, if AUS super funds were considering investing in the technology surrounding the British nuclear power industry, that would be a totally different matter.

[carlhull]

If you took this money and build a world class coal fired steel mill that would truly help the planet

[southern-samurai]

You mean their failed offshore wind farm projects? Great.

[Without_Lies_Media_Dies]

And people call crypto a scam lol, Nothing different here.

[dontbeasheeple]

One of the best decisions of my life was to set up my SMSF

[awc]

If they put it in wind/solar you're all screwed. Those things are potholes in the road to nowhere.

[jerrywong]

What are the super fund names? I need to withdraw all my super funds that invested in wind farms.

[tearsinthesun]

Get your super funds out and self manage or will have nothing for retirement 😢

[mckenziehellenann]

I'd be very nervous if my super money was involved in this investment..

[lilynazara]

Super funds consist of individual people's savings and meant to help fund people's retirement. It's not for gambling in offshore projects. IMF. Says it all. OWG.

[patrickdowdle]

If these investment make any money, you can be certain that money wont go back into the members accounts. Leave our super ALONE

[edelmary]

WHAT ... hands OFF our SUPER...it will flop and we will loose it all

[absolootely]

Money managers are smart people. Obviously if Ozzie Pension Funds are fleeing Australia they have their reasons.

[shaneinaz]

It's a this things a huge money grab, grift

[gurnleygropple]

so will the UK govt be "underwriting" the cost when this all goes belly-up? ie, the british taxpayer will fund Australian super funds - I guess you could call that some kind of reparation fee for the convicts who were stolen from their lands and sent to work as slaves for the colonial

[nowiamsane]

Her speech at the Press Club was weird. I'm amazed GB news havnt had a field day with it. Let's just say she has some interesting ideas about British people and their history.