AUSTRALIA - The A$800m Tasplan fund has overhauled its asset mix and forayed into a number of new alternative asset classes on the back of a review of its investment strategy.
Tasplan said it had introduced a new asset type of “opportunistic property and private equity” assets to capture the superior return opporunities expected in this area.
In addition, the fund has introduced infrastructure and absolute return asset classes to its portfolio.
The foray into absolute returns is expected to broaden the investment base and reduce fluctuations in returns, particularly if the equity markets were to move down sharply.
Global listed property will form an extension to Australian listed and unlisted property, in part due to the “limited opportunities” to invest in Australian listed property.
General manager Neil Cassidy said the key objective of the review was to determine what, if any, changes could be made to the plan’s investments to enhance future returns.
The new investments will be progressively funded throughout 2006 as suitable opportunities arise, he added.
Strategic allocations to Australian and international shares and fixed interest would be reduced as a result of the changes.
The fund said asset allocations for each investment option (equities, longer term growth, balanced, short term defensive and cash) would be amended further as the new investments were made, with new allocations anticipated to be within the ranges set for these new asset classes.
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