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17/08/2010
Dear AVCAL Colleague,

We are only 4 weeks away from the Conference. I'm looking forward to catching up with many of you on the Gold Coast.

The Conference Working Group have done a great job in putting together an excellent range of topical sessions. There will be less panels and more interactive segments that I am confident will produce a high quality program. I'd really like to thank the group for their hard work in putting together this program.

We are also pleased to announce that Natasha Stott Despoja will join us for the closing keynote address. Natasha will help us to understand the post-election landscape and what this will mean for our industry.

AVCAL are also interested in testing the waters of social networking in order to remain close to our members. We may use Twitter for the conference this year in some capacity, but are looking for feedback to indicate whether you would value receiving updates via Twitter in relation to our research or lobby effort. If you could respond appropriately, this will help us to determine whether this would be valuable to you.

Yes, I follow Twitter
I currently do not, but I would
No, I would not follow Twitter

Election: as an industry association it is very importnant that we work with both sides of politics and whichever party wins on Saturday AVCAL will be well-placed to continue our good relationships in Canberra. In the last 8 weeks I have met with Tony Abbott and Joe Hockey, Nick Sherry and Kim Carr. And I had a valuable time at a small dinner with the Prime Minister last week where I highlighted the importance of support for the VC industry and the potential unintended consequences of the proposed MySuper scheme with respect to fees. I urged the PM to recognise that it is the net result for the investors that matters, and that a one-size fits all regulation of fees could actually harm the interests of superannuants.

So, whatever the outcome on Saturday AVCAL will continue to work in a constructive way with the Government to deliver benefits for our members.



Kind regards,

Katherine
Chief Executive

Latest Policy and Research News

AVCAL Annual Data Collection FY2010

We would like to thank all members who submitted their data for the AVCAL Activity data collection programme for FY10 (the deadline was 12 Aug 2010). As with last year, you will receive an additional industry data pack once the Yearbook is finalised, and be eligible to make bespoke industry data requests drawing from this database

Further details can be found here.

AVCAL and Cambridge Associates partner to deliver Australian PE and VC performance data

As mentioned in previous newsletters, AVCAL and Cambridge Associates have embarked on a strategic partnership to provide comprehensive, independent Australian private equity and venture capital data to industry participants.

Innovation: The Policy Gap?

AVCAL Chief Executive Dr Katherine Woodthorpe, in this open letter, highlights the need for clear and farsighted policies by both parties for a sustainable innovation system.

The MIT definition and private equity

This article by Toby Eggleston of Greenwoods & Freehills looks at applying the definition of a Managed Investment Trust (MIT) to PE funds and how that definition may impact the structure of existing and future PE funds in Australia.

ATO form for Managed Investment Trusts: election into capital treatment

Trustees of MITs that came into existence prior to the 2009-10 income year must use this form for making an election for capital treatment in accordance with section 275-115 of the ITAA 1997. Once this form is completed, the election will have effect for the 2008-09 and later income years.

Labor's innovation policy agenda

Innovation Minister, Senator Kim Carr released Laborís Innovation policy agenda while on a visit to the Central Queensland University in Bundaberg last week. The media release outlines Labor's approach to innovation, achievements to date, and forward agenda. Labor also released an Innovation Factsheet, explaining their views on the Australian Innovation sector.

Responsible Investment: A Guide for PE and VC firms

This publication by the BVCA, in conjunction with PricewaterhouseCoopers LLP and Waterman Group PLC, seeks to improve firms' understanding of environmental, social and governance (ESG) risks and opportunities. The report shows how these can be managed within a structured investment framework and, therefore, supporting the incorporation of these issues into GPs' investment decisions and management of assets. Available via the AVCAL website here.

Update on EU AIFM Directive: potential implications for non-EU GPs and LPs

EVCA has prepared a briefing note outlining the third country treatment under the AIFM Directive as it currently stands. The note outlines the potential implications for third country (non-EU) LPs and GPs under the current draft.

AVCAL Networking and Professional Development

AVCAL PE 101

Melbourne - 27 August 2010, FULL
Sydney - 28 October, FULL
Express your interest for further PE 101 sessions.

The program has been designed to provide leading professional development for AVCAL stakeholders attracting new people entering the industry, administrative staff and service providers who need to understand their clients.
AVCAL 2010, Gold Coast, QLD (members only)
September 22-23, Golf September 21.
Register now - WAITLIST NOW!

Don't forget your Hawaiian Shirt for our 'South Pacific' dinner theme
Other Events

Tech23 2010, 19 August 2010, Sydney
Celebrates innovation by showcasing 23 great companies from across Australia. Last year over 400 attended - entrepreneurs, investors, government, media, corporate and industry leaders.

What's next in Responsible Investment?

Attend RIIA's 7th International Responsible Investment Conference on September 14th and 15th in Darling Harbour, Sydney to hear from RI experts on topics including how China is embracing ESG issues featuring Professor Ruyin Hu, Head of Research, Shanghai Stock Exchange.

Register now

Creative Innovation 2010, 8-10 September

The world's most creative thinkers are coming to Melbourne! Imagine a conference that was out of the ordinary..that pushed boundaries..with over 35 world class speakers and performers!

The inaugural Creative Innovation 2010 two day conference will attract leaders, thinkers and speakers from around Australian and Internationally. There is also a pre-conference day of Deep Conversations and Master Classes. Gala concerts and world class performers will contribute to this unique event.

This is a once in a lifetime event you cannot miss!
The 23rd Annual AVCJ Forum:

Asia's Private Equity Week, November 9-12, 2010, Hong Kong. Discount rate for AVCAL members.
Enquire Now
The PEI Investor Forum, 16-17 November, The Westin, Sydney
A timely platform for the investor community to come together to engage in a candid and meaningful dialogue on how to best approach private equity.




RESEARCH PARTNER

Ernst & Young


AVCAL 2010 PARTNERS

BOS International

KPMG

Quadrant

Maddocks

TPG

KKR

Advent

INVESTEC

Ironbridge

AON

Next Capital

Champ Private Equity

Credit Suisse

Gallagher

Pacific Road Capital Management

Pacific Equity Partners

Westpac

Archer Capital

Castle Harlan

NAVIS

NBC Capital

CATALYST

Intralinks

Propel Investments

Coller Capital

ROTHSCHILD

LEK

Commonwealth Bank of Australia


DATA VENDOR

Capital IQ

Disclaimer:

AVCAL is the professionally managed industry body that promotes the Australian private equity & venture capital industry.

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