Former Queensland Premier Peter Beattie has urged Australian superannuation funds to consider investing in innovation via appropriate models.
Addressing the Conference of Major Super Funds in Brisbane, Beattie outlined the success enjoyed by the Medical Research Commercialisation Fund (MRCF) and the involvement of two superannuation funds in the underlying model.
He said he believed the MRCF model provided a model that was unique and worth following.
Beattie said this was particularly the case when Australia spent more than $1 billion on research and development, but a fraction of that on commercialisation.
He said he believed Australia should develop a pool of funds for commercialising its research ideas and that superannuation funds should support the establishment of that pool of funds.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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