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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Future Fund ready for AustralianSuper court battle

Posted on 13 December 2013

The $92 billion Future Fund has reiterated that it will vigorously defend itself against legal action by the country’s biggest superannuation fund, the $70 billion AustralianSuper. The battle between two of Australia’s biggest investors is set for next week in the Victorian Supreme Court, after tussling for access to documents and several adjournments.
The dispute centres on the price the Future Fund paid for a stake in Perth Airport, in which AustralianSuper is also an investor. AustralianSuper claims the Future Fund priced it out of increasing its holding, by ascribing a premium of up to 43 per cent to the airport………………………………………..Full Article: Source


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