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Joe Aston

Sam Sicilia tweets as Hostplus burns

Joe AstonColumnist

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“Let me be absolutely clear. The government’s early release scheme is well-intentioned. We want to play our part … and stand ready and able, with ample liquidity available, to support all Hostplus members that want to apply … for this benefit”. That 1:17pm tweet on Sunday from the fund’s garrulous chief investment officer Sam Sicilia is a striking admission his prior 38 tweets had been anything but clear.

Sicilia had, up to that point, spent his weekend (from Friday afternoon) educating the social media platform on the sheer folly of the Morrison government’s aforementioned scheme. “Pulling rug from under super system by an early release law change forces superfunds to take actions that are not in member’s best interests! Now is not the time to force superfunds to sell equities to give members access to money”. And suchlike.

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Joe Aston helmed The Australian Financial Review's Rear Window column from 2012 to 2023. Connect with Joe on Facebook and Twitter.

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    Original URL: https://www.afr.com/rear-window/sam-sicilia-tweets-as-hostplus-burns-20200401-p54g51