31/08/2009
Paul said the decision to move from Perpetual to Colonial was part of a decision by the trustees to ensure the cash portfolio was “as close as possible to a cash investment” rather than enhanced cash.
“Those investments in normal times are quite good but in the global financial crisis we had issues in relation to the true valuation of some of those portfolios,” he said.
“The trustees took the view that they wanted to move to a solid cash holding and make sure there were no liquidity issues.”
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Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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