AVCAL welcomes the Johnson report on Australia as a Financial Centre, released 15 January, 2010.

The report's recommendations are comprehensive, timely and critical to the continued growth of Australia's financial services sector.

We are particularly pleased to note Recommendations 3.1 (Investor Manager Regime) and 3.3 (Fund Management Vehicles), which will help support the continued competitiveness of the PE and VC industry in Australia.

We welcome the opportunity to work with the Government towards the early adoption and implementation of the report's recommendations.