As the impact of the floods and cyclones across Queensland is still being felt and assessed, we can report to members that AvSuper property assets in Queensland are still in good condition with no material impact.
Less than 15% of our property portfolio was exposed to the floods and cyclones in Queensland, and fortunately no substantial damage was caused by either disaster to any of our assets.
All of our property holdings in Queensland were monitored and cared for to the best extent possible during each crisis, with only minor damage occurring for a small number. We are waiting for our eligible insurance claims to be assessed however we can easily recover from the small amount of damage involved; in fact some minor repair work has already commenced.
While our thoughts and sympathy remain with our members and employers affected by these natural disasters, we continue to monitor all our investments in the best interest of all our members.