❓ Hon George Cash, on behalf of Hon Norman Moore, questions the Minister for Government Enterprises regarding the Insurance Commission's investments in three hedge funds, seeking details on investment amounts, returns, and further investments. The Minister, Hon Ljiljanna Ravlich, provides specific figures and confirms no further investments were made.
AnsweredQoN 172Legislative Council
QuestionView source ↗
INSURANCE COMMISSION OF WESTERN AUSTRALIA
I ask the question on behalf of Hon Norman Moore. I refer the minister to the investment of funds by the Insurance Commission with three hedge funds. (1) How much money was invested with each fund? (2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH
I ask the question on behalf of Hon Norman Moore. I refer the minister to the investment of funds by the Insurance Commission with three hedge funds. (1) How much money was invested with each fund? (2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH
AnswerView source ↗
I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(1) How much money was invested with each fund? (2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(3) No.
(1) How much money was invested with each fund? (2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(2) What was the return on the funds for each of the three hedge funds in 2005-06 and what returns has each fund generated in the first half of 2006-07? (3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(3) Has the commission invested any further funds with these or other hedge funds during the current financial year? Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
Hon LJILJANNA RAVLICH replied: I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
I thank the member for some notice of this question. (1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(1) It was $45 million. (2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(2) For the 2005-06 financial year, net of managers’ fees, Warakirri asset management, 4.79 per cent; IXIS asset management, 5.62 per cent; and GMO Australia Limited, 0.74 per cent. These performance figures are from commencement in December 2005 to the end of the financial year. For the first half of the 2006-2007 financial year, net of managers’ fees, Warakirri asset management, 6.71 per cent; IXIS asset management, 5.46 per cent; and GMO Australia Limited, 4.80 per cent. (3) No.
(3) No.
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