Cole to speak at investment conference

By Staff Writer

The author of a 2008 report into faulty council investments has signed up to speak at an investment conference in Sydney next month.

Michael Cole, author of the Cole Report, will open proceedings at the Local Government Investment Conference in Sydney on March 9.

Mr Cole sits on the Board of Directors for the New South Wales Treasury Corporation (TCorp) and has 36 years of experience in banking and investment management.
His 2008 inquiry into council investments recommended tighter regulation following local government's exposure to the collapse of the US sub-prime mortgage market.

In his final report, Mr Cole found that councils had around 50 per cent of their investments in risky funds, with losses totalling up to $400 million.

The inaugural Local Government Investment Conference has lined up nine speakers to distill the lessons of the global financial crisis and map out the fiscal future for Australia’s councils.

The Conference will be headlined by Local Government Managers Australia (LGMA) chief executive John Ravlic.

In a session titled ‘Business as unusual’, Ravlic will detail strategies councils can adopt to see them through the tougher fiscal conditions of the coming decade.

John Evans, University of NSW associate professor of actuarial studies, will provide an insight into the meaning of ‘fiduciary responsibilities’ for council decision-makers.

Peter Dorrian, head of retail investments for the Australian arm of the world’s biggest bond manager PIMCO, and Anthony Serhan, research chief for Morningstar Australia, will give delegates investment industry insider views on the state of markets in the ‘new normal’.

The one-day conference will be held on Tuesday March 9 at Doltone House, Pyrmont, Sydney. For further details and to register please visit or call 1300 789 845.

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