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 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 Fund

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The Future Fund was established under the Western Australian Future Fund Act 2012, with the purpose of redistributing a portion of the State’s royalty revenue and investing those funds in order to provide a revenue reserve to facilitate future infrastructure requirements.

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 20 February 2020
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