Fairfax Media has today reported that the Queensland Liberal/National Party Government has appointed the wife of Shadow Treasurer, Joe Hockey to the board of the superannuation fund covering Queensland public servants - Qsuper.
Hockey’s wife, a former Deutsche Bank executive which the report described as a “self-made millionaire”, will receive a $45,000 fee for filling the trustee director position.
The report said Queensland Treasurer Tim Nicholls had gazetted Ms Babbage’s appointment in mid-June but had not publicly announced the move.
Babbage is a non-executive director of Swiss Re Life and Health Australia Ltd.
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.