Asic gazette commonwealth of australia gazette a0914, tuesday, 4 march 2014 companyscheme deregistrations page 44 of 45. Olam international limiteds acquisition of the almond assets of timbercorp group in. Timbercorp primary infrastructure fund arsn 116 024 830 tpif is a property trust listed on the asx which is associated with the timbercorp group of companies timbercorp group. The riskreturn profile of infrastructure, which is complex to construct, is. D prior to 22 september 2014, the funds benchmark was the vanguard global infrastructure index with net dividends. Infrastructure fund investors spooked by labour pfi plans.
Can you achieve finality in a class action timbercorp. Timbercorp primary infrastructure fund information memorandum this document this information memorandum has been prepared to facilitate the listing of the timbercorp primary infrastructure fund the fund arsn 116 0 4 830 by orchard investments management limited on the australian stock exchange asx. Arrow primary infrastructure fund page 3 of 9 asic regulatory guide 46 disclosure needs to be taken. Ozsuper can be enjoyed up to a point as a guest, as a paid viewer you will enjoy. Investing in infrastructure funds probitas partners. There is also the potential for the solora south citrus orchard to be transferred from the timbercorp primary infrastructure fund tpf to tot. As such, funds will naturally prefer to limit their downside risks. Scheme and guidelines for india infrastructure project development fund were notified by the ministry of finance, department of economic affairs, vide om no. Tpf timbercorp primary infrastructure fund home page.
Diversified infrastructure infratil, other 14% transport 26% telecommunications 19% airports 19% aif portfolio. In australia, legg mason asset management australia limited afsl no. For most institutional investors, infrastructure investing remains in a. The fund is an open ended, unlisted property trust with investments in geographically diverse property and infrastructure assets used in the primary production industry.
Fund trustees owe their primary duties and obligations to their members, who are generally seeking steady positive returns from their fund. Timbercorp investment scheme victims call for strict. It is the centrepiece of the loddonmurray regions new mediterranean horticultural industry. Timbercorp primary infrastructure fund the timbercorp primary infrastructure fund the fund, formerly called the timbercorp agribusiness trust, was launched in september 005 to acquire agricultural properties, including associated infrastructure and permanent water rights, for use in agribusiness projects. Timbercorp primary infrastructure fund david barnett general manager issuers nlx plt tmr tpf page 2 of 2. It is expected that the proposed asset transfer will provide. It is the centrepiece of the loddonmurray regions new mediterranean horticultural industry strategy, which includes regional infrastructure development in an expansion of the waranga western irrigation channel and a new power line. Understanding the value of transport infrastructure. If you cannot find the answer to your question please send an email to england. The fund is to be channelled into infrastructure projects on the african continent with an emphasis on economic growth, social upliftment and energy. Arrow reports the fund s actual interest cover ratio covenant against the debt facility covenant to the bank on a sixmonthly basis. National statistical agencies do not currently collect separate data on these investments, and the different modes available to investors to gain exposure to infrastructure means that information is buried under different headings. The economic impact can be transformative, especially at lower levels of income.
Nov 27, 2008 the timbercorp primary infrastructure fund. It is expected that the proposed asset transfer will provide operating synergies and valuation benefits if transferred to tot. Timbercorp primary infrastructure fund and controlled entities arsn 116 024 830 2 appendix 4e rule 4. Timbercorp eucalypts limited 1999 managed investment scheme. All applications for finance are subject to approval by timbercorp finance. All applications for finance are subject to approval. If you want to discuss any part of your application you should contact timbercorp finance on 1800 628 188. Timbercorp submission to productivity commission 5 timbercorps boort estate olive grove is a good example. For example, kkr infrastructure fund, citigroup infrastructure investors, and santander infrastructure. The high court has dismissed two appeals against a decision of the victorian court of appeal on the operation of anshun estoppels which prevents a party asserting a claim or raising an. Mercer global listed infrastructure fund investment objective primarily investing in global listed infrastructure securities using a multi manager approach, the fund aims to outperform. Timbercorp primary infrastructure fund information memorandum this document this information memorandum has been prepared to facilitate the listing of the timbercorp primary infrastructure fund. Funding and investing in infrastructure 1 based on a paper prepared for the fiscal future of the local public sector conference, june 23, 2011, at the george washing ton institute of public policy and sponsored by the brookings institution, the george washington institute of public policy, the. Growth investments 90100 100 defensive investments investment strategy the mercer global listed infrastructure fund provides investors with a liquid and diversified exposure to infrastructure securities globally an emerging and growing sector.
Transport infrastructure is a critical ingredient in economic development at all levels of income. Join the hotcopper asx share market forum today for free. As australian securitie s exchange 30 august 2010 annual. The fund owns 16 properties which are leased to leading australian primary production companies involved in the poultry meat, almond, mango and citrus industries. The employee retirement income security act erisa was the catalyst. For most institutional investors, infrastructure investing remains in a state of flux as it shifts from being a niche sector to become a fullblown, independent asset class. The benchmark growthdefensive mix of investments for the fund is 100% growth.
Scheme and guidelines for india infrastructure project. Timbercorp limited abn 87 055 185 067 asx announcement. C past distributions are not an indication of future distributions. Timbercorp primary infrastructure fund tpf announcements. Arrow currently complies with its financial risk management policy and therefore meets this asic benchmark. Jul 17, 2009 align runs timbercorp primary infrastructure fund tpif, which owns the land and water rights for the almond plantations. Fund trustees owe their primary duties and obligations to their members, who are generally. Higher risk is associated with constructionphase projects due to completion and usage risks. Timbercorp primary infrastructure fund tpf overview. C past distributions are not an indication of future. Infrastructure investor 8 july 2009 pension investments in infrastructure in 2007, u. The timbercorp scheme promised investors significant returns on timber plantations as well as tax deductions.
Managed investment schemes mis radically distorted rural communities by taking productive agricultural land out of production and exacerbating the acute scarcity of irrigation water, writes peter. Funding and investing in infrastructure urban institute. Align funds management limited align is the responsible entity re of tpif. Fund total return is the fund gross return less management costs. Timbercorp primary infrastructure fund tpfasx asx share. Transport infrastructure plays a role as a capital. Comparative summary the law library of congress 2 several of the countries appear to rely somewhat heavily on private roads, concessions, or privatepublic. Paul branston partner perth australia paul advises on a range of corporate transactions including public and private mergers and acquisitions and equity capital markets. Probitas infrastructure fund list, which lists funds that are currently in the market or that plan to be in the market by october 2009, reports that t out of the top en 20 infrastructure funds intend to maintain a.
The infrastructure projects stream supports projects which involve the construction of new infrastructure, or the upgrade or extension of existing infrastructure that provides economic and social. A longtime critic of managed investment schemes, lance milne, stated that the collapse of timbercorp could have ramifications throughout rural australia. National statistical agencies do not currently collect separate data on these investments, and the different modes available to investors to. Align runs timbercorp primary infrastructure fund tpif, which owns the land and water rights for the almond plantations. Can you achieve finality in a class action timbercorp finance. Gearing levels are expected to reduce gradually over the. Maplebrown abbott global listed infrastructure fund. Pension investment in infrastructure assets makes sense 1 source. Timbercorp finance pty ltd abn 88 054 581 190 is prepared to consider financing up to 90% of the gst inclusive amount that you want to invest in projects. Nov 09, 2016 the high court has dismissed two appeals against a decision of the victorian court of appeal on the operation of anshun estoppels which prevents a party asserting a claim or raising an issue of fact or law if that claimissue was so connected to the subject matter of an earlier proceeding that it was unreasonable in the context of that first proceeding to not have raised it then in the. Timbercorp limited abn 87 055 185 067 asx announcement 2008. If 510% of this amount were invested in infrastructure, this would. Profile with its investment focus on diversified infrastructure assets, at 30 june 2000 the aif portfolio comprised 10 investments across 5 sectors. Gearing levels are expected to reduce gradually over the medium term, with a reduction in capital expenditure and the sale of further assets into the fund freeing up cash flows available to retire debt.
Comparative summary the law library of congress 2 several of the countries appear to rely somewhat heavily on private roads, concessions, or privatepublic partnerships as means to fund some of their road infrastructure, including canada, china, france, israel, and south africa. New africa infrastructure fund launched by sanlam and infrasec. It also paid huge commissions to financial advisers like melbournes peter holt. Paul branston herbert smith freehills global law firm. A comparison between australia and canada australian and canadian pension funds have been pioneers in infrastructure investing since. The sale of these assets is now scheduled for 2008. Mr milne said that, with timbercorp having 40 subsidiaries and several major companies dependent on it for their survival, the coming weeks will, he believes, see a string of these companies. Index returns do not allow for taxes, management, transaction and operational costs. It supports personal wellbeing and economic growth. Timbercorp, a nowdefunct managed investment scheme within australia from 1999 to 2008, was established to manage superannuation and investments in agriculture. Transport infrastructure plays a role as a capital input into production and wealth generation. Probitas infrastructure fund list, which lists funds that are currently in the market or that plan to be in the market by october 2009, reports that t out of the top en 20 infrastructure funds intend to maintain a multiregion portfolio.