House of Assembly - Fifty-First Parliament, Third Session (51-3)
2008-10-14 Daily Xml

Contents

WORKCOVER CORPORATION

Dr McFETRIDGE (Morphett) (14:53): My question is to the Minister for Industrial Relations.

Members interjecting:

The SPEAKER: Order!

Dr McFETRIDGE: Has the Russell Investment Group—an investment consultant for WorkCover—shut down transaction and management operations for WorkCover investment funds? If so, what is the financial consequence? Russell Investment Group is an investment consultant contracted to undertake day-to-day investment decisions for WorkCover. On Saturday 11 October it was reported that Russell SuperSolution (known as Russell Investments) was forced to shut down all transactions during the week due to the global financial crisis and that it has frozen accounts and suspended prices and transactions without notice due to market volatility.

The Hon. P. CAICA (Colton—Minister for Industrial Relations, Minister for Employment, Training and Further Education, Minister for Science and Information Economy, Minister for Youth, Minister for Volunteers) (14:54): I will take the question on notice and get back with the information for the honourable member and the house.