In 2010 Kevin John Hogan of Beacoms Road, Clunes NSW stood as the National Party candidate in that year’s federal election.
His media biography at that time read:
46 year-old Hogan lives at Clunes, near Lismore. He grew up in country South Australia and worked managing investment portfolios with Colonial in Sydney, also giving daily financial market updates on Sky News. He decided to move to the north coast thirteen years ago and spent seven years teaching at St Mary's High School in Casino before setting up his own superannuation consultancy business.
He expanded on this somewhat during the 2010 election campaign:
He expanded on this somewhat during the 2010 election campaign:
In 2013 Kevin Hogan is again standing as the Nationals candidate in the Page electorate and his official biography appears almost as terse:
Born and bred in Regional Australia, Kevin lives with his wife Karen and three children on a property near Lismore.
After completing an Economics degree Kevin spent over ten years in Sydney forging a successful career in finance, working for Colonial for many years.
When the time came to raise a family Kevin and Karen moved back to the Northern Rivers and Karen’s home town of Lismore.
Kevin took up teaching, at St Mary’s High School in Casino, teaching Business Studies and serving, for a time, as Deputy Principal.
He operates a small business and runs a cattle property. Karen works as a registered nurse.
Kevin has always been committed to contributing to his local community. He has served on a local council Wastewater Advisory Committee, been Vice President of his local state primary school P&C, president of the local sports club, and coached junior sporting teams.
However, this brief curriculum vitae raises a few questions.
For instance, why is Kevin Hogan silent on his time as Investment Officer for the Australian Catholic Superannuation and Retirement Fund which ended when he resigned in September 2008?
Or why does he not include his time sitting on a Trinity property investment group sub-committee, the Investors Advisory Board (IAB), as a voting member representing the interests of Catholic Super until his resignation from that board in September 2008?
The Global Financial Crisis may explain many of the losses on Catholic Super's books in 2008 and Mr. Hogan may have genuinely decided that he didn’t want the constant commute between Sydney and the NSW North Coast, but the fact remains that he was Investment Officer at a time of decidedly poor investment performance.
Now he is standing for election this September and asking Page voters to trust him to assist in creating national financial policies for the world’s 12th largest economy and one which survived that same financial crisis with flying colours.
Now he is standing for election this September and asking Page voters to trust him to assist in creating national financial policies for the world’s 12th largest economy and one which survived that same financial crisis with flying colours.
At the very least voters deserve a full account of his employment history to date so that they can cast an informed vote next September.
Brief background
Table
from Catholic Super & Retirement Fund (CSRF) Trustee’s Annual Report to Members 30 June 2009:
Click on image to enlarge
I&T News Conexus Financial Pty Ltd 26 October 2009:
Investors with $850 million invested in Trinity Funds Management products have appointed KPMG to investigate the governance changes underway at the manager before deciding whether to put their mandates out to tender.
KPMG is preparing to undertake the investigation, which gives Trinity about three months to earn the confidence of the investors before they decide to stay with the manager or terminate their mandates in the wake of the success fee scandal that saw lobbyist Ross Daley earn $1 million for, he claims, helping secure a $100 million mandate from Sunsuper.
David Asplin, general manager – institutional funds management at Trinity, said the manager was working “very co-operatively” with the investors’ representative committee (IRC), “given that they constitute a large percentage of our external investments”.
The IRC, an independent body representing investors in Trinity’s unlisted funds, was formed in late July after the Investors Advisory Board (IAB), a sub-committee within Trinity, dissolved.
The six-member IAB was set up in mid-2008 to represent investors in Trinity funds, and included John Coombe, executive director of JANA; Megan Chan, portfolio manager with Sunsuper; Kevin Hogan, investment officer of Catholic Super; and Craig Stevens, chief executive officer of Austsafe.
It is understood that KPMG was appointed by the IRC to investigate the governance changes taking place at Trinity following the Daley success fee scandal.
Business wiith The Wall Street Journal in The Australian 21 September 2009:
Trinity said it froze the trust because it was "not in the best interests of unitholders" to allow investors to withdraw funds.
"Trinity Property Trust has no mandatory requirement to make a withdrawal offer," the group said. "In accordance with the trust's constitution and (the) Corporations Act, unitholders can only withdraw from the fund if the manager chooses at its discretion to make a withdrawal offer."
Since Sunsuper invested $100m in Trinity the value of the trust has slumped 26 per cent, with the investment -- provided by the group's superannuation holders -- now worth just $74m.
No comments:
Post a Comment