Since mid March 2008, VPEG has invested a portion of its Net Investment Portfolio in a combination of high yielding “cash at call” deposits with ANZ Banking Group Ltd (ANZ), as well as rolling term deposits with Westpac Banking Corporation (Westpac)

With AUD$392.6 billion of assets, ANZ is one of the largest companies in Australia and New Zealand and a major international banking and financial services group, which is among the top 50 banks in the world.

ANZ’s world headquarters are located in Melbourne, where it first opened an office as the Bank of Australasia in the 1830s. It now operates in 30 countries across Australia, New Zealand, Asia, the Pacific, the UK, Europe and the USA.

Westpac is Australia’s first bank and first company having commenced its operations in 1817. Westpac has since grown to become one of Australia’s leading financial services organisations with more than 10 million customers. Over the past 10 years Westpac has delivered consistent growth and is one of only 17 banks globally with a credit rating of “AA” or higher.

Short term cash investments with ANZ and Westpac carry each bank’s credit risk, helping to ensure that VPEG’s investments are aligned to a capital preservation mindset whilst maintaining a high level of income. This allows VPEG to achieve its objectives of high income and capital stability, without sacrificing liquidity, on those funds yet to be invested in diversified private equity assets.