Australia’s largest pension fund invests A$500 million in India’s infrastructure fund

By Scott Murdoch

SYDNEY, July 9 (Reuters) – Australia’s largest pension fund, AustralianSuper, ‌said on Thursday it would ‌invest a further A$500 million ($346 million) in India’s ​National Investment and Infrastructure Fund (NIIF).

• The fund said the investment would come on top of the A$240 million ‌it committed seven ⁠years ago.

• AustralianSuper will now hold A$3.3 billion worth of ⁠investments in India.

• Indian Prime Minister Narendra Modi is in Melbourne ​and will ​be meeting with ​Australian CEOs at ‌a business forum on Thursday.

• The NIIF was created in 2015 to attract global investment into the country’s infrastructure development.

• AustralianSuper said its original ‌NIIF investment had been ​one of the fund’s ​best performing ​infrastructure investments.

• The fund’s ‌existing Indian holdings range ​across infrastructure, ​equities and private market investments.

• AustralianSuper has A$410 billion worth of ​funds under ‌management.

($1 = 1.4432 Australian dollars)

(Reporting by ​Scott Murdoch; Editing by Nia Williams ​and Sonali Paul)