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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Australian Super backtracked on airport valuation: Future Fund

Posted on 02 July 2014

The Future Fund has accused AustralianSuper of backtracking on its own valuation of the Perth Airport, a dispute which is at the heart of the legal case one of the country’s biggest superannuation funds is waging against Australia’s sovereign wealth fund. According to the defence the Future Fund has lodged with the Supreme Court of Victoria, AustralianSuper had previously agreed with the now disputed valuation and it believes AustralianSuper may be pursuing the legal action in a bid to achieve a commercial settlement.
A spokesperson for the Future Fund told Financial Standard that the “Future Fund is pleased to have finally been provided with the opportunity to lodge its defence with the Victorian Supreme Court. We have consistently and strongly maintained that Future Fund has acted appropriately at all times, and we totally reject the allegations of wrongful conduct that have been made. “Future Fund remains confident in its position and will vigorously defend this matter.”……………………………………….Full Article: Source


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