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Public
Trustee and Investments
The Public
Trustee is a statutory office established by Government to provide trustee
services to the people of South Australia. Catherine O'Loughlin, the Public
Trustee, is the trustee of all funds managed by the organisation and is
ultimately responsible for all investment decisions, policies and strategies.
The Public
Trustee is assisted by an Investment Advisory Board (comprising internal
and external members) which advises on investment policy, strategy and
tactics.
Public Trustee's
internal investment services group consists of two separate teams. The
investment management team implements the investment policies following
disciplined systematic procedures and the funds administration team administers
the transactions of the securities, ensures custody for the securities,
values the funds, administers all client transactions and produces all
accounts and records. This separation of roles increases security and
ensures the investment process is subject to close scrutiny.
Who'll
combine prudent investment management with performance, security and low
costs?
We
will
Funds
Management
Many people
know Public Trustee for its trustee, estate management and will making
services.
Few, however,
know that since 1881 Public Trustee has held money in trust for its clients
and has had the responsibility to invest that money for the benefit of
those clients.
The skills
and management expertise built over the decades have provided the foundation
for the significant growth in funds management within Public Trustee throughout
the nineties. Public Trustee's fully fledged, diversified funds management
service currently invests in excess of $700 million of client funds under
management.
To this end,
- Common
Fund No 1 was established over half a century ago.
- The Equities
Common Fund commenced in December, 1988.
- Common
Fund No 2, mainly for short term investments began in December 1990.
- Public
Trustee Sector Common Funds, on which the Funds Management Service is
based were put into place on 21 May, 1996.
Since 30
June 1990 funds invested through Public Trustee Common Funds have grown
from $159.6 million to $732.1 million at the present.
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