Derivatives
49 Derivatives
The Future Fund Board may acquire a derivative for the purpose of:
protecting the value of an investment of the Housing Australia Future Fund (other than a derivative); or
protecting the return on an investment of the Housing Australia Future Fund (other than a derivative); or
achieving indirect exposure to financial assets (other than derivatives) for a purpose in connection with the Housing Australia Future Fund; or
achieving transactional efficiency for a purpose in connection with the Housing Australia Future Fund;
but must not acquire a derivative for the purpose of speculation or leverage.
The acquisition of a derivative under subsection (1) of this section must be consistent with the investment strategy embodied in a policy formulated by the Future Fund Board under subsection 48(1).
A derivative acquired under subsection (1) of this section is to be held in the name of the Future Fund Board.
A derivative acquired under subsection (1) is taken to be an investment of the Housing Australia Future Fund.
This Act’s bill:Explanatory memorandumSecond reading speech
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