MOTOR ACCIDENT COMMISSION, 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 the Motor Accident Commission (MAC) has not invested in or hedged any of its 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.