❓ Shadow Treasurer Wyatt questions the Treasurer about potential agreements with Gresham Investment House regarding the State Future Fund. The Treasurer denies any such agreements, stating the fund will be managed internally.
AnsweredQoN 242Legislative Assembly
QuestionView source ↗
STATE
FUTURE FUND — GRESHAM INVESTMENT HOUSE
242. Mr B.S. WYATT to the
Treasurer:
I have a supplementary question. Can the Treasurer guarantee
that he or the state government has not entered into any agreements regarding
the future fund with Gresham Investment House?
FUTURE FUND — GRESHAM INVESTMENT HOUSE
242. Mr B.S. WYATT to the
Treasurer:
I have a supplementary question. Can the Treasurer guarantee
that he or the state government has not entered into any agreements regarding
the future fund with Gresham Investment House?
AnswerView source ↗
As I have explained, there are no agreements to be entered
into with anyone because the fund is to be managed by the Western Australian
Treasury Corporation as part of the public bank account.
Mr B.S. Wyatt : Can
you guarantee it? Guarantee it—yes or no?
Mr C.C. PORTER : It
is an impossibility because there will be no private outside use of advisers or
analysis. This, member, is the point: the commonwealth Future Fund, which
spends $440 million a year in making its investment decisions, does precisely
the types of things that the member is talking about. We are not going to do
those things. The answer to the memberXXX ###XXXs
question is that there are no private investment decisions being made by any
private organisation in respect of the Western Australian future fund.
into with anyone because the fund is to be managed by the Western Australian
Treasury Corporation as part of the public bank account.
Mr B.S. Wyatt : Can
you guarantee it? Guarantee it—yes or no?
Mr C.C. PORTER : It
is an impossibility because there will be no private outside use of advisers or
analysis. This, member, is the point: the commonwealth Future Fund, which
spends $440 million a year in making its investment decisions, does precisely
the types of things that the member is talking about. We are not going to do
those things. The answer to the memberXXX ###XXXs
question is that there are no private investment decisions being made by any
private organisation in respect of the Western Australian future fund.
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