If it won’t come from up here, it’s going to be from somewhere and the new “super unit” will start by getting it from down under.

This new unit “will pave the way for vital investment into key UK projects”, said Lord Jason Stockwood, investment minister, who will visit Australia, Malaysia and Singapore next week to meet investors.

This feels like a revival of our “commonwealth” , a concept that has fallen into disuse in recent years.

Alan Livesy of the Thames reminds us that Singapore is already a  large investor in the UK.

Total Singaporean foreign direct investment in the UK was worth about £27bn at the end of 2024, according to figures from the Department for Business and Trade.

I continue to be amazed that British pension funds , especially our new DC master trusts complain that there is nowhere for them to invest , while overseas pension funds find the UK an easy place to get stuck in.

There is a king of anti-patriotism in our current craving to be considered fiduciary in what we do that is quite the opposite of the mood of the country. If you consider the results of the recent local elections , you feel that we aren’t quite doing what we ought to when considering investing in UK growth.

Australian superannuation funds already hold around £41bn in UK investments as of mid-2025, according to a report by infrastructure investors IFM. These funds are expected to double their investments in the UK and Europe by 2035 to £323bn.

Currently, nearly 60 cents in every new Australian dollar contributed is invested internationally, with the US, UK and Europe all key destination markets.

If Master Trusts will struggle to find investments, they might ask where they were when this money was committed. We cannot get to “megafund” status with these funds – quick enough. If master trusts will not find it easy enough to unitise and quote the investments back to the people who take the risk, then maybe someone else might.

I had not thought that the answer to “who might invest” would look beyond DC but now I am daring to think that CDC funds , that do not need the unitisation or daily valuation for the display of  DC pots will find it easier to join forces with existing DB growth funds managed for LGPS, USS and what is committed to “run on”.

I would like to think that the Mansion House Accord is beating strong for collective pensions that are and have yet to be established; that there will be chances to build a new consensus among collective funds to join the Australians, Singaporeans and Malaysians in finding UK investables.

Here’s evidence of  investment opportunities  that the fiduciaries of DC schemes have so far missed . The Pension Schemes Act provides them with a backstop, to focus their intent; if they cannot do it as DC funds, perhaps CDC funds will prove easier!