Amberley goes on show in style - Department of Defence

AIR FORCE October 16, 2008
Global turmoil
affects MSBS
MILITARYSUPER has not been
immune from the volatility experienced
in financial markets around
the world.
During financial year 07/08, most
superannuation funds declared significant
negative returns for the year; with
the average balanced fund returning
-6.4 per cent and the average growth
fund returning -8-9 per cent.
MilitarySuper also declared negative
returns for three of its five investment
options for the year with the balnced
option (which has a 62 per cent
xposure to growth assets) returning
LONG TERM RETURNS
Average Returns (Compounded Average Annual Returns)*
Option 1 Year 3 years 5 years 10 Years Since Inception
Cash 6.0% 5.6% (5.7%) 5.1% (5.1%) N/A 5.1% (5.1%)
Conservative 2.7% 7.2% (7.1%) 7.5% (7.5%) N/A 7.5% (7.5%)
Balanced -0.5% 9.0% (8.8%) 10.7% (10.6%) N/A 10.7% (10.6%)
Growth -2.6% 9.8% (9.3%) 11.4% (11.1%) 7.1% (6.7%) 8.1% (7.7%)
High Growth -3.9% 10.2% (9.6%) 12.7% (12.3%) (N/A) 12.7% (12.3%)
(*Average returns represent a simple arithmetic average of a series of returns generated over a
period of time. Compound annual return represents the cumulative effect that a series of gains or
losses have on an original amount of capital over a period of time.)
LETTER TO THE EDITOR
I READ with interest the
article in AIR FORCE News
on page 4 of September 18 (pictured
right) regarding the support
that RAAF Base Edinburgh
ffered to the medical team
retrieving a heart for a transplant
in Sydney.
It is great to see the base
swing into action when the need
arises.
However, I believe that
while 92WG are the “Quiet
Achievers”, the efforts of the
duty watchkeeper at the 92WG
Tactical Support Centre, FSGT
Col Muller, need to be acknowledged.
FSGT Muller was the first
-0.5 per cent and the growth option
(which has an 88 per cent exposure to
growth assets) returning -2.6 per cent.
MSBS CEO John McCullagh
said although members might “gain
some comfort from knowing that
MilitarySuper performed better than
most of its peers, it was still disappointing
that the fund produced negative
returns in three of its investment
options”.
However, he noted the scheme had
embarked on a major restructure of
its investment strategy four years ago,
which had softened the impact on the
point of contact by the Angel
Flight organisation, and contacted
the duty member to arrange
access to the airfield and then,
on his own initiative, arranged
refuelling, on-base accommodation
for the crew, rations and a
SECPOL escort for the taxi carrying
the heart to the aircraft.
While the ground handling
of civilan aircraft is not within
the normal duties of the 92WG
watchkeeper, I believe that
FSGT Muller’s actions reflect
credit on himself as well as
RAAF Base Edinburgh and the
Air Force as a whole.
SQNLDR George Zidlicky
RAAF Base Edinburgh
4 News AIR FORCE September 18, 2008
Quick dash ash
saves lifee
Edinburgh helps deliver heart
WHEN it comes to organ transplants,
it’s the minutes that matter
most, as RAAF Base Edinburgh personnel
discovered recently in what
could be a first for the ADF.
CO Combat Support Unit,
Edinburgh, WGCDR Rod Smallwood,
sonal thanks to you and your team,”
senior air traffic control officer
the letter said. “Without the assistance
of such people,
SQNLDR Carlton Sargeant and OIC
the mission of the hospital
would not be possible.”
Air Movements Section John Perry
WGCDR Smallwood said that time
recently “opened shop” early one
had been of the essence because, in
morning to assist in the emergency
most cases, four hours was the timetransplant
pick-up from an Adelaide
frame for successful retrieval of an
hospital for a swift delivery to a wait-
organ and its transplant to the recipiing
patient in Sydney.
ent.
The call for assistance came in It was another example of how the
from the Sydney hospital at 11.30pm ADF helps the community.
and an air movements crew met the “RAAF Base Edinburgh was proud
private jet and its team of doctors at to be able to react quickly and facilitate SAMARITANS: From left, John Perry, WGCDR Rod Smallwood and duty officer Jason Cameron, who led
4.45am.
a successful mission for the transplant Edinburgh’s efforts to assist the delivery of an urgently-needed heart to Sydney. The base’s efforts played a
While other personnel escorted the team,” he said.
major role in ensuring a successful transplant operation. Photo: WGCDR Smallwood
medical team to the hospital to retrieve “The prompt professional response
the donated heart, Support Services to this unique emergency situation was
staff provided food and rest facilities outstanding and reflected highly on the applauded the way organisations such very best reasons and often beyond the Force stands ready to assist promptly
for the crew, and readied the aircraft Edinburgh units involved, and the Air as the Air Force, Angel Flight and the call of duty,” he said.
and professionally.
for a 7.50am return to Sydney. Using Force.”
Royal Flying Doctor Service all pulled It is reported the transplant patient
the private jet helped speed up the safe Transplant Australia’s South together in an emergency.
is on the road to recovery. When it
delivery of the heart.
Australian spokesman Bernie Morellini “Everybody involved does it for the comes to the heart of the matter, the Air
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WGCDR Smallwood, expressing its
warmest thanks and sincere appreciation
of the Air Force efforts.
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fund’s investment performance in FY
07/08.
“That restructure involved a significant
shift away from listed equity markets
and replacing that exposure with
alternative assets such as private equity
and infrastructure,” he said.
“This was supported by a strategic
decision taken in September 2007 to
increase the fund’s exposure to cash
due to growing concerns about listed
markets. These in combination allowed
the fund to weather the storm better
than most of its peers.
“The decision to restructure meant
that when listed markets perform
extraordinarily well, as they did for
the five years prior to June 2008, we
wouldn’t necessarily benefit as much
as other funds,” Mr McCullagh said.
“But on the other side, when listed
markets perform poorly, the alternative
investments act to soften the blows for
us.”
The extreme volatility experienced
in investment markets around the
world has been fuelled by concerns
about recession in the US, the subprime
credit crisis, rising oil prices and
inflation fears.
“Investment and superannuation are
Col’s a credit to new heart
AIR Force medical personnel were
at the forefront of the response to the
Taliban attack in which nine ADF members
were injured on September 2.
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For information on becoming an organ
donor, contact the Australian Organ
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Air Force aids diggers
Twist from RAAF Base <strong>Amberley</strong>,
FLTLT Kelli Mitchener, and CPL
Sara O’Rourke from RAAF Base
Williamtown.
The Australian medical team at the The wounded were medivaced to the
field hospital at Tarin Kowt is led by hospital. There, SQNLDR Cooper and a
WGCDR Annette Holian. Her team Dutch officer evaluated their condition
includes SQNLDR Sharon Cooper from and passed them through for appropriate
RAAF Base Townsville, FLTLT Leigh levels of treatment.
903/276 Pitt Street
Sydney NSW 2000
02 9262 7338
info@wyatts.com.au
very much about the long term,” Mr
McCullagh said.
“Markets run in cycles and it is not
unusual for sustained periods of high
investment returns to be followed by
a downturn such as that we have experienced.
He said on average this occured
Personnel
19
FUTURE IN CHECK: Superannuation is about the long term, so it is not
unusual for funds to be affected by downturns in the investment market.
During the last financial year, MilitarySuper has declared negative returns
for three of its investment options thanks to financial turmoil around the
world. Photo: LAC Aaron Curran
every six or seven years. “Our investment
objective is to provide positive
returns in pretty much all market
conditions, but in the last six to
nine months we’ve seen the worst
economic conditions throughout the
world that any of us can remember,”
Mr McCullagh said.