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Housing Australia Investment Mandate Direction 2018
14Minimum target value of Permanent Fund
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14 Minimum target value of Permanent Fund
(1) The Board must aim to maintain the value of the Permanent Fund in the medium to long term at no less than the minimum target value. (2) For this Direction the minimum target value of the Permanent Fund at a particular time is the sum of the amounts allocated to the sub-funds of the Fund under subsections 13(2) and (3), adjusted to cover the Commonwealth’s cost of borrowing.