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.”
Whenever super fund CIOs are asked what they’re doing about AI risk, “diversifying” is always the answer. But as cross-portfolio exposures to the thematic grow and grow, that answer is no longer good enough.
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