AUSTRALIA - New South Wales shadow treasurer Mike Baird is calling on the state to create bonds suitable for self-managed superannuation fund investors that would then be used to fund state infrastructure projects.
Baird said the state should partner with international money managers to create so-called Waratah Bonds, products that carry a low-risk inflation match.
He said: "Over the next 15 years it's forecast more than A$560m (US$507m) a week will be available in new capital from self-managed super funds.
"That's enough funds raised in one week to build a brand new hospital, or raised in a month to build the South West rail link. Self-managed super funds could play a critical role in building NSW infrastructure."
Investors can currently access TCorp Bonds, domestic bonds guaranteed by the government of New South Wales.
But Baird said: "These have not been structured specifically for infrastructure nor with self-managed super funds in mind."
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