Gloabl - A report from the OECD has pointed to the potential of pension fund money in the development of global infrastructure.
The organisation for Economic Co-operation and Development (OECD) report pointed to the growing gap between infrastructure needs and available public investment. It called for the encouragement of public private partnerships to bridge the gap and said pension funds should be incentivised to make allocations to the asset class.
The report, sponsored by Macquarie Bank, also called for a review of legal and regulatory frameworks and a reduction of the vulnerability of long term infrastructure planning.
Jim Craig, head of the Macquarie Bank Group in Europe, said: "The report highlights the need for increased private investment alongside the public sector.”
He added: “In particular, the patient capital of pension funds – which amounts to around US$18 trillion in the OECD area - is identified as ideal for long-term ownership of essential community services."
Craig said he believed infrastructure funds had the potential to help bridge the gap between shrinking public funding and the growing demand for essential community services.
"The long-term approach of the pensions and insurance industries is a key factor for public sector stakeholders, combined with responsible asset management under mature regulation," he said.
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