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Managed Accounts Managed positions are identified separately from divisional positions in shadow financial statements. AOFM monitors its performance using the performance indicators presented in Table 1 from the 2018-19 Business Plan and AOFM`s 2018-19 portfolio budget statements. Sections 2 and 3 of this part of the annual report provide detailed information on a series of important results for the AOFM`s annual and longer-term objectives. This detail is made available to the performance statement, as it is addressed to financial market players as a relevant audience. An ongoing research program provides information on developing a medium- and long-term vision for adequate portfolio management and implementing an annual decision-making strategy to achieve this portfolio management objective. This program focuses on researching the cost and risk characteristics of other portfolio structures and issuance strategies in a wide range of scenarios. This takes into account prevailing fiscal and economic conditions and an assessment of broader market trends. Based on this research, AOFM has formulated a strategy for the structure and composition of the program for 2018-19, which was approved by the Treasurer at the time of the budget. Regardless of this, a number of boundary values, thresholds, guidelines and complementary objectives for the AOFM activity were submitted to the Secretary for approval by an annual contract. These governance agreements provide adequate oversight of the impact of AOFM`s annual gross issuance decisions on overall debt policy. The following sensitivity analysis illustrates the sensitivity to interest rate risk risks of managed financial instruments and the financial impact on profits or losses and equity on financial positions held at year-end.

A deposit held with a financial institution with a fixed (short) duration. When a term payment is purchased, the lender (the customer) understands that the money can only be withdrawn at the end of the period or after a predetermined number of days. In 2018-19, there were no reports of AOFM activity by the Auditor General (except the Annual Accounts Report), the Parliamentary Committee or the Commonwealth Ombudsman. The average rate of bank assets and tradable certificates of deposit issued by banks designated by the Australian Financial Markets Association as Prime Banks and with a residual term of between one and six months. BbSW is used as a benchmark interest rate for various financial products. The time differences between Australian government revenues and expenditures result in significant variations in the volume of short-term assets and liabilities managed by AOFM, and thus, in their net portfolio as a whole, relative to the gross volume of outstanding debt.


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