Sen. James Paterson says he is concerned Australian pension funds (superannuation) could seek out investment opportunities in countries run by authoritarian regimes like China.
“We’re not as big a global investor as the United States is, but our superannuation industry—our pensions funds—are increasingly large and are really outgrowing the Australian economy and need to invest abroad,” the centre-right Liberal Party senator told the American Enterprise Institute in Washington on Sept. 13.
“I am concerned they put themselves at risk if they start investing in authoritarian regimes, and so we do have to think about what sort of advice, guidance, and even controls might be necessary.”…