Cash & Fixed Interest Investments
Since mid March 2008, VPEG has invested a portion of its Net Investment Portfolio in a combination of high yielding “cash at call” and rolling 30, 60 & 90 day term deposits with ANZ Banking Group Ltd (ANZ).
With AUD$392.6 billion of assets, ANZ is one of the largest companies in Australia and New Zealand and a major international banking and financial services group, which is among the top 50 banks in the world.
ANZ’s world headquarters are located in Melbourne, where it first opened an office as the Bank of Australasia in the 1830s. It now operates in 30 countries across Australia, New Zealand, Asia, the Pacific, the UK, Europe and the USA.
Short term cash investments with ANZ carry the bank credit risk, helping to ensure that VPEG’s investments are aligned to a capital preservation mindset whilst maintaining a high level of income. This allows VPEG to achieve its objectives of high income and capital stability, without sacrificing liquidity, on those funds yet to be invested in diversified private equity assets.
Currently, ANZ has strong and stable independent credit ratings by both Standard & Poor’s Rating Group and Moody’s Investor Service. Standard & Poor’s ratings for ANZ are “A-1+” short term and “AA” Long Term.”