FUNDS SA

In reply to Mr GRIFFITHS (Goyder) (25 June 2008).

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I have been provided the following information:

During 2007-08, changes made to the investment managers appointed by Funds SA included:

Managers appointed

Australian shares: Bernstein Value, Goldman Sachs JBWere, and Perennial Growth

International shares: BGI Pan Asia

Property: RREEF (Deutsche Bank), Vanguard

Inflation linked securities: Colonial First State

Managers terminated

Property: Macquarie, Perennial, SG Hiscock

Australian shares: Jenkins, SG Hiscock

Investment managers engaged by Funds SA are subject to continual monitoring. During 2008-09, as in all years, regular asset sector reviews will re-evaluate the appropriateness of investment strategies and managers.