TREASURY AND FINANCE, HEDGE FUNDS

In reply to Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (25 June 2008).

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I am advised that both South Australian Government Financing Authority (SAFA) and Funds SA have not invested in or hedged any of their funds either directly or indirectly through the following hedge funds: Macquarie Bank's Fortress Funds; Bear Stearns; Basis Capital; Goldman Sachs; Cheyne Finance; Landesbank Sachsen; BNP Paribas; or any other hedge fund exposed to that market.

South Australian Government Captive Insurance Corporation's (SAICORP) funds now form part of SAFA following the amalgamation of SAFA and SAICORP on 1 July 2006.