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Tuesday, 1 May 1973
Page: 1543


Mr Garland asked the Treasurer, upon notice:

(1)   Has the Commonwealth Superannuation Fund now invested in debentures, shares and stocks listed on Australian stock exchanges.

(2)   What avenues of investment are open to the Fund and what percentage of funds is invested in each category.

(3)   What has been the percentage growth of the Fund in each of the last S years.

(4)   What was the inflation rate in Australia during the same period.

(5)   Does the Government regard the investment of the Fund as satisfactory to its members.


Mr Crean - The answer to the honourable member's question is as follows:

(1)   No, the Fund has not been invested in debentures, shares and stocks listed on Australian stock exchanges; however, regulations to permit investment in debentures under the terms of sub-sections (2), (4) and (5) of Section 12 of the Superannuation Act have recently been made.

(2)   In accordance with Section 12, the moneys of the Fund may be invested by the Superannuation Board in the classes of investment shown below. The percentage of total funds invested in each class at 30th June 1972 is shown in column 2.

(3)   and (4) The percentage growth of the Fund in each of the last 5 years is shown in the following table. There is no single measure of the rate of inflation; however, the movement in the Consumer Price Index in each of the last 5 years is shown in column 2 of the table.

 

(5)   Within the limits, set by the legislation, the moneys of the Fund have been and are being invested to obtain a return consistent with the prevailing market conditions, in the best interests of members of the Fund.







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