Mexico earthquake and your infrastructure assets

03/10/2017

As a Mercy Super member, you’re an astute wholesale investor in premium Australian and global assets that are not always available to the general public. This includes infrastructure assets that play a key role in a diversified portfolio. You can find out more about your infrastructure assets in our recent What role do infrastructure investments play in your super? article.

As part of your global reach you have a stake in two key infrastructure assets that are within the region impacted by the recent earthquake in central Mexico through the IFM Investors Infrastructure Fund. The manager of this investment, IFM Investors, have provided the following update on the impact this has had on:  

IFM Investors update – Earthquake in Mexico


On Tuesday, September 19, 2017, an earthquake with a magnitude of 7.1 struck central Mexico at 1:15PM local time, and Mexico City was severely impacted.  IFM GIF has two investments in the region, Conmex and its parent company, OHL Mexico.

Immediately following the incident, OHL Mexico’s crisis committee gathered to ensure the safety of its employees and road users and to manage the company and its subsidiaries during the crisis. The safety of personnel and road users and the integrity of the network remain OHL Mexico’s top priorities. To date, no injuries have been recorded among Conmex and OHL Mexico’s employees or their immediate families, and all infrastructure operated by OHL Mexico and its subsidiaries is functioning with no material damages.

OHL Mexico implemented a number of initiatives in response to the earthquake:
  • Waived all tolls on urban roads since Tuesday to allow for free and safe passage of rescue services and all users in the time of crisis. The waiver will stay in place until Monday, September 25th, or when schools in the region re-open;
  • Donated MXN10 million to the Red Cross of Mexico to assist with medical relief, and a program was established for all OHL Mexico personnel to make personal donations;
  • Employees are assisting with rescue efforts at a building that collapsed during the earthquake, utilizing company minor maintenance equipment to assist with the rescue efforts; and,
  • OHL Mexico has dispatched its engineering teams to help assess the safety and integrity of employee homes that were damaged during the earthquake.

IFM Investors is fully supportive of all relief efforts in the aftermath of the earthquake. Our thoughts remain with Mexico during this difficult time.

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This information has been issued by Mercy Super (ABN 11 789 425 178). The Trustee of the Fund is Mercy Super Pty Ltd (ABN 98 056 047 324, AFSL 418976). The information provided is of a general nature only and does not take into account the financial situation, objectives or needs of any individual. Accordingly, before acting on the information, the appropriateness of advice should be considered in the context of the individual’s objectives, financial situation and needs. Please refer to the Mercy Super Product Disclosure Statements which are available in the Documents & forms section.
 

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