AustralianSuper Doubles Down on Indian Investment with AU$500 Million Pledge

India has attracted significant investment from AustralianSuper, one of Australia's largest pension funds. The fund announced an additional AU$500 million investment in India's National Investment and Infrastructure Fund (NIIF), bringing its total holdings to 3.3 billion Australian dollars.

The investment was welcomed by Prime Minister Narendra Modi, who said it reflected global confidence in India's growth story. This is the second time AustralianSuper has invested in NIIF, with an initial AU$240 million investment made in 2019.

AustralianSuper Chief Investment Officer Shaun Manuell attributed the decision to invest again to India's strong economic growth and expanding middle class, as well as the country's policy environment. 'India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully,' he said.

The NIIF was created by the Government of India in 2015 to attract long-term institutional capital into the country's infrastructure sector. AustralianSuper currently has about 2.8 billion Australian dollars invested in India across various asset classes.