‘Disgraceful’ government neglect costs Indigenous funds $1b
Two big government funds set up to benefit Indigenous people without native title rights were shackled for decades by the investment equivalent of stuffing money under a mattress.
Indigenous Australians have been short-changed by up to $1 billion over 15 years by the poor management of government funds designed to advance their economic and social interests.
Analysis by The Australian Financial Review of decades of financial returns of two major funds set up to benefit Indigenous people without native title rights show both were shackled by the investment equivalent of stuffing money under a mattress.
Ronald MizenPolitical correspondentRonald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
Peter KerResources reporterPeter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
