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Infrastructure Investment in New Markets: Challenges and Opportunities for Pension Funds

Author

Listed:
  • Fiona Stewart

    (OECD)

  • Juan Yermo

    (OECD)

Abstract

This report reviews the existing evidence on pension fund investment in infrastructure in “new” markets, covering a number of non-OECD countries, such as Brazil, China, India, Indonesia and South Africa, as well as some OECD countries like Chile and Mexico. In the African, Asian, and Latin American countries surveyed, domestic pension funds invest more than USD 15 bn in infrastructure projects, around 1.3% of the total assets managed (USD 1.1 trillion as of December 2010). Foreign pension funds, given their large size, could be a potentially major source of funding, but most have only recently started investing in infrastructure projects and have focused their attention in mature markets. The report concludes with a series of policy recommendations to facilitate infrastructure investments in new markets. Investissement dans les infrastructures sur les nouveaux marchés : défis et opportunités pour les fonds de pension Ce rapport passe en revue les éléments d’information disponibles sur l’investissement des fonds de pension dans les infrastructures sur les « nouveaux » marchés, qui englobent un certain nombre de pays non membres de l’OCDE, comme l’Afrique du Sud, le Brésil, la Chine, l’Inde et l’Indonésie, ainsi que certains pays membres comme le Chili et le Mexique. Dans les pays d’Afrique, d’Asie et d’Amérique latine examinés, les fonds de pension nationaux investissent plus de 15 milliards USD dans les projets d’infrastructure, soit environ 1.3 % du total des actifs sous gestion (1.1 billion USD en date de décembre 2010). Compte tenu de leur taille, les fonds de pension étrangers pourraient être une source de financement potentiellement importante, mais la plupart d’entre eux n’investissent que depuis peu dans des projets d’infrastructure et concentrent leur attention sur les marchés matures. En conclusion, le rapport formule un ensemble de recommandations d’action en vue de faciliter les investissements dans les infrastructures sur les nouveaux marchés.

Suggested Citation

  • Fiona Stewart & Juan Yermo, 2012. "Infrastructure Investment in New Markets: Challenges and Opportunities for Pension Funds," OECD Working Papers on Finance, Insurance and Private Pensions 26, OECD Publishing.
  • Handle: RePEc:oec:dafaad:26-en
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    File URL: http://dx.doi.org/10.1787/5k8xff424vln-en
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    Cited by:

    1. Asian Development Bank Institute, 2017. "Local Currency Bonds and Infrastructure Finance in ASEAN+3," Working Papers id:11883, eSocialSciences.

    More about this item

    Keywords

    emerging markets; infrastructure investment; pension funds;

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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