Prime Minister Narendra Modi expressed his appreciation for AustralianSuper’s recent $500 million investment in India’s National Investment and Infrastructure Fund (NIIF). This move signifies global trust in India’s growth trajectory, with Australia’s largest pension fund now holding a total of 3.3 billion Australian dollars in various Indian assets. PM Modi, on the social media platform X, highlighted the significance of this fresh investment in showcasing global confidence in India’s growth and reform path.
The announcement was made during the Australia-India Annual Leaders’ Summit in Melbourne, where AustralianSuper’s Chief Executive Paul Schroder was set to participate. This new commitment follows AustralianSuper’s initial investment of 240 million Australian dollars in the NIIF back in 2019, which was lauded as one of its top-performing infrastructure investments. AustralianSuper’s Chief Investment Officer Shaun Manuell emphasized that this investment reflects the fund’s belief in India’s long-term growth prospects and policy framework.
Shaun Manuell further explained that AustralianSuper’s decision to reinvest in the NIIF was driven by India’s policy consistency, strong economic growth, and expanding middle class. He noted that the Indian government’s efforts to facilitate successful capital deployment have made the country an attractive investment destination. AustralianSuper views the fundamental strengths of India as intact, foreseeing potential returns for its members, which led to the decision to make a second investment in the NIIF.
Established in 2015 by the Government of India, the NIIF aims to draw long-term institutional capital into the country’s infrastructure sector. AustralianSuper currently has approximately 2.8 billion Australian dollars invested in India across infrastructure, equities, and private markets.
