26 April 2011 14:00
“We had to be sure that the tax treatment of the derivatives would align with the tax treatment of the underlying portfolio, and both be on the capital account,” Richards said.
“If the derivatives were on the income account, in some situations this process wouldn’t work, you’d lose all your franking credits for the entire year. It was important for us to ensure that wouldn’t happen.”
As super funds work to understand their total portfolio exposure to the artificial intelligence thematic, a complex picture of hidden betas and “attachment points” is gradually emerging. They also need to figure out how to play the same thematic in the “tricky” China market.
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