Public Bank Account Investments

Money is invested for the benefit of Western Australia.

The Public Bank Account (PBA) is a banking arrangement that operates under the authority of section 11 of the Financial Management Act 2006.

The PBA is arranged so that government agencies have access to their cash on a day-to-day basis, while excess cash is invested until such time as it is needed, generating higher returns for the State.

The Western Australian Treasury Corporation manages the PBA investments on behalf of the Department of Treasury.

The PBA investments are structured into the following separate accounts:

  1. Public Bank Account
  2. Future Health Research and Innovation Fund

The PBA accounts are governed by the following policies and framework:

Public Bank Account

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The Public Bank Account (PBA) investment objectives are to invest the moneys in the PBA such that the government’s liquidity requirements are met and invested returns earn a rate of return commensurate with the approved risk profile.

Holdings

The reports show the total of investments held in each category of investment, plus a breakdown of the amount of securities held from each issuer or credit counterparty within those categories.  The amount invested is the purchase price of the investments and may represent one or more individual investments.

Future Health Research and Innovation Fund

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The previous Western Australian Future Fund was re-purposed to the Future Health Research and Innovation Fund on 24 June 2020. Forecast investment income is withdrawn from the fund each year and then credited to the Future Health Research and Innovation Account to assist with improving health outcomes for Western Australia.

Holdings

The reports show the total of investments held in each category of investment. The amount invested is the purchase price of the investments and may represent one or more individual investments.

Page reviewed 23 July 2020