Energy Efficiency

Public servants and anyone else either directly or indirectly connected must have grave fears that the fund managers – after ‘investing in Telstra’ – have bought a string manufacturer instead of sticky tape.  

Given that most intelligent fund managers must know of Peak Oil, rising fuel costs and reducing road trips resulting in toll tunnel businesses going bust, why would they be looking to waste over a billion $’s to buy into a consortium of toll related companies ?

Who will benefit from this ‘investment’ of people’s future retirement funds? One might reasonably suggest the fund managers themselves, because their members will not.
Future Fund intends to purchase a share of Transurban; putting between $1bn and $1.5bn into the bid, in an unprecedented deal in which it could end up with between 15 and 25% of Transurban (who owns Citylink in Melbourne, the Hills M2 in Sydney and has stakes in the M7, M4, the Westlink M7 and the Eastern Distributor in Sydney and investments in two toll roads in Virginia in the USA).  

Have we not already seen the stupidity where the transference of superannuation funds bails out failing companies … how can this corporate theft continue, unless condoned by corporate government itself.

Mr Murray claims this as a quantum leap in investment strategy for the fund – already partly managed by corporate manglers AMP, Citi and UBS – .and it would always need someone to manage an asset for it, but there were various ways of going about it.

He is alleged to have said ‘we are interested in the company because we are interested in infrastructure’; what a profoundly ignorant investment strategy !

Corporate government has blood sucked every spectrum of the gravy train, effectively squandering pensions and now superannuation funds, so the suggestion of the Future Fund having a long-term goal of having 30% of its assets in infrastructure and property will see the current fund size of $64bn easily drop by 90% within the next 10 years.

So if you are salary sacrificing, think again because at the end of the day, what you have in your pocket may well be all that you will have to survive on.