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Legislative Assembly for the ACT: Week 6 Hansard (24 June) . . Page.. 2780..


balance of asset allocation, with more than 58 per cent of the portfolio now invested in cash and fixed interest assets;

(6) Further to paragraph (3) of answer to Question on notice No 340, concerning research being conducted by Treasury on the performance of superannuation investments in other jurisdictions, will the Treasurer provide a copy of this comparative analysis that has been undertaken by Treasury.

Mr Quinlan: The answer to the member's question is as follows:

(1) In mid 2001, the Finance and Investment Advisory Board endorsed the concept of a defensive asset allocation being retained pending the (then) appointment of an asset consultant and the consequent review of the appropriate strategic asset allocation for SPA investments.

In November 2002 I formally noted the appropriateness of a long-term strategic asset allocation to achieve long-term investment earnings targets but I instructed that it not be implemented at that time given the then poor outlook for equity markets.

As responded to previously (Question No. 1280), no new monies during 2001-02 and 2002-03 were directed to equity investments.

(2) Fund managers were in place to accommodate the additional flows referred to in (1) above.

(3) The response to Question No. 1280 identified that fund manager searches needed to be undertaken prior to adoption of the long-term strategic asset allocation.

(4) Refer to response to question (3).

(5) The Chief Minister's media release of 28 October 2002 noted the maintenance of a defensive investment strategy.

(6) No, the analysis undertaken was done internally within Treasury in preparation for Terms of Reference 3 of the Commission of Audit. The Government did not deem it necessary to undertake Stage 3.

ACTION-services

(Question No 1493)

Mr Smyth asked the Minister for Planning, upon notice, on 4 May 2004:

(1) In relation to the involvement of ACTION in providing bus services to community and sporting events and further to the answer to Question on notice No 1339, when is it expected that the review of special event ticketing, mentioned in part (8) of the answer, will be completed;

(2) Is this review solely an internal review or will it involve consultations with external interests, such as tour and event organisations and other bus companies;

(3) Will a copy of this review be available publicly; if not, why not.


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