The Queensland Investment Corporation (QIC) is looking to take its client base into China, according its chief executive.
Damien Frawley said the Australian investment manager was looking to diversify and grow its clients in new infrastructure markets including China.
Frawley also said QIC was keen for investors in Europe to take advantage of opportunities in Australian infrastructure.
“We expect 60% of our fund to be invested in Australian infrastructure and 40% in Europe, including the UK, and/or the US,” he said.
“We are targeting one or two more assets in the next five years, but we won’t take on business simply to satisfy our AUM – that’s not what QIC is about.”
Frawley said assets under management increased by 5% from just over AUD70bn (€66.1bn) to AUD73.8bn at June 2015.
QIC delivered a return on assets of 28.2%, above its targeted 23%.
Frawley said financial performance was one of the strongest to date, driven by “increased focus on revenue generation, strong investment performance and a rigour applied to achieving our cost management objectives”.
He highlighted the launch of its Global Infrastructure Fund and the formation of a AUD1bn Asia-Pacific Infrastructure Partnership with CalPERS.
The company, which this year opened an office in New York, said 91% of its flagship funds met or exceeded investment targets in real estate, infrastructure, global liquid strategies, private equity and multi assets.
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