Your investment update - May 2024
In our latest update, we give you a quarterly performance recap, an update on market news and volatility, and showcase one approach we’ve taken towards investing in AI.
Balance
An important part of our ‘super with impact’ is investing responsibly in affordable housing and healthcare projects that can deliver great outcomes for our members and help strengthen our community.
investing in affordable housing
Affordable housing is a major challenge in Australia given our tight rental market and undersupply of new rental accommodation. As a member-first fund, we are committed to finding solutions to our affordable housing challenge.
Last November we announced our expectation to commit $240m to affordable housing fund manager, Super Housing Partnerships (SHP). This is a unique opportunity to innovate and invest in an in-demand solution for Australian housing supply.
SHP has a pipeline of build-to-rent (BTR) housing projects focused on social and affordable housing in Australia. SHP will initially develop BTR Victorian apartment projects that could offer more than 1,600 new homes blending social, affordable, market-rate and specialist disability housing.
We expect our investment in SHP to deliver stable, long-term returns for members, help accelerate an emerging investment sector, and provide diversification from other property assets like retail shopping centres and office buildings.
Learn more about how HESTA invests in affordable housing on the HESTA website.
investing in health and life sciences
HESTA has a long history of building long-term investment in health and life sciences, supporting jobs and innovation in sectors that many of our members work in.
We are working on an opportunity with the University of NSW (through HESTA's mandate with ISPT) to establish a co-investment in the University of New South Wales’ (UNSW) $600 million UNSW Health Translation Hub (UNSW HTH), in the heart of Sydney’s Randwick Health & Innovation Precinct.
The UNSW HTH, opening in 2025, will bring together educational and medical researchers, clinicians, educators, industry partners and public health officials, to deliver better health outcomes to the community. The investment potential for HESTA is promising as UNSW HTH will drive the creation of medical products, services, and intellectual property.
HESTA’s co-investment in UNSW HTH has been made possible through our $430 million health care property mandate.
investing in our shared future
Our commitments to investing in SHP and UNSW HTH can help deliver strong long-term returns and provide investment diversification for our members’ retirement savings. Importantly, they will help support future jobs, growth in our economy, and better health outcomes for many in our society.
Learn how HESTA invests in the future of medicine on the HESTA website.
getting ready for your next move?
Our Retirement Hub offers expert advice on your options, including help applying for the Age Pension.
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