19.06.2015 - Future Fund payout will go to members: AusSuper
A long-running dispute between AustralianSuper and the Future Fund over shares in Perth Airport has resulted in a $7 million settlement that the industry fund says will be used to compensate its members. Yesterday after a battle in the Federal court that spanned two years the Future Fund agreed to pay AustralianSuper $7 million in an out-of-court settlement. The claim related to the Future Fund’s $875 million acquisition of a shareholding in Perth Airport as part of an agreement in 2012 to acquire $2 billion of airport assets from Australian Infrastructure Fund (AIX). The superannuation fund said the Future Fund had inflated the price of a number of AIX assets it purchased...............................................Full Article: Source
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