Thank you, Mr. Chair. When the Heritage Fund was first established, because the balances were growing relatively slowly, the amount wasn't that significant. It didn't make sense for a third-party administrator to look after the investments in the fund, because the costs would have been too high. Because the balance is getting to an amount where it makes sense that the fund balance be administered by a third party who is better positioned to invest the fund in a more diverse mix of assets so that it grows a bit faster, we have decided to go with that approach. Thank you, Mr. Chair.
Mr. Kalgutkar on Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on March 6th, 2019. See this statement in context.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
March 6th, 2019
Page 5224
Kalgutkar
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