Some recent media commentary has raised concerns about the reliability of the valuation of superannuation funds investments, and in particular of the valuations of unlisted, alternative assets held by them.
It may be useful for members to know Westscheme's approach to valuing its investments. This information has been added to the website. It can be found at http://www.westscheme.com.au/publications/other/443/801.
This information is drawn from the Westscheme Valuation Manual, a policy document that was first adopted by the Westscheme Trustee Board in 2003. It has been revised at least annually since then. It is an extensive and detailed document. It has been submitted for consideration to the external audits of Westscheme and to regulatory reviews.
Howard Rosario
Chief Executive
23 June 2008
Previous articles from the Chief Executive are available via the links below:
Westscheme's "Cash" investment option
Risks in current investment markets »
How has super performed over the long term? »
Positioning of Westscheme in meeting the Challenges of Market Turmoil »
Trustee: Westscheme Pty Ltd AFSL 232709 ABN 33 009 194 218 RSE Licence No: L0000581
Westscheme ABN: 68 559 391 482 SFN: 1353/119/43 RSE Registration No: R1000825