AustralianSuper makes a monster investment loss

AustralianSuper invested heavily through Vista Equity Partners into Pluralsight the online learning platform only to now come out with the full capital loss of $1.1 billion.

I know that each super fund is trying to provide members with positive returns, but I would question if investing into an online education start-up is the safe and responsible way of investing other people’s hard earned retirement savings.

AustralianSuper blames COVID, more difficult economic conditions, rising interest rates, increase competition.

Those are the usual market changes that a good investment manager would take always into consideration and managed as required with due diligence and responsible governance.

And let’s be honest, how long can investment companies blame COVID? That was already years ago.

The loss of $1.1 billion is not reduction of asset value due to market conditions, this is the full write-off of total investment.

Imagine you invest $1MIl into a bank account and then one day your balance is $0. In AustralianSuper fund case this is $1.1bil of loss.


Contact details: Katherine Isbrandt of About Retirement
Website: https://aboutretirement.com.au/
Email: [email protected]

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