Future Fund drops tobacco: Should fossil fuels be next?

After a year long public campaign, the Future Fund has today announced plans to end its $222 million investment in tobacco.

Islamic fund and asset management: The opportunities and challenges of Islamic REITs

Purpose This paper aims to present a review on the issues and challenges for Islamic Funds and Asset Management, particularly the Islamic Real Estate Trusts (I-REITs) available in Malaysia. The key difference between the Islamic and the conventional investment vehicle is mainly the fund needs to adhere to the Shariah framework. Design/methodology/approach The paper reviews and synthesises the relevant literature on the framework of Islamic Asset and Fund Management, particularly the Islamic Real Estate Investment Trusts. The paper then provides insights for further research to address the issues and consider the Shariah framework applicable to other further research works. Findings The paper highlights the opportunities and challenges of Islamic REITs globally. There is a lack of the standardisation in the screening methodology used by the Malaysian I- REITs and Singapore I-REITs as the latter follows the Gulf Cooperation Council (GCC) guideline to capture the investors mainly from the Gulf countries. In term of tenants’ selection, there is similarity between I-REITs and the Socially Responsible Investment (SRI) or ethical investment. The gap between the investments can be bridged if the Islamic funds skewed the investment portfolio towards the social and ethical investment. Even though there is a limitation in the investment universe, I-REITs provide better diversification option and show better performance compared to the equity market during the economic crisis. The introduction of the Shariah-compliant REITs index for Asia Pacific allows the fund managers to benchmark the performance of either the funds or the sector with other investment vehicles. This will encourage more investors to consider I-REIT in the decision making of the asset allocation portfolio and broadening the horizon of the investment. Originality/value The contribution of the study is the examination and analysis of the Shariah framework currently adopted for Islamic REITs. This will assist in the identification of specific issues associated with Islamic REITs that will need to be addressed in the development and application of further research in the aspect of the management and operations to increase the efficiency level and better performance in order to capture more investors in this specific and promising market.

We need to fund more than just science priorities for Australia’s future

Australia's Science and Research Priorities focus on activating STEM researchers (science, technology, engineering, maths). In this article in The Conversation, Professor Marcus Foth argues that we need to fund more than just science priorities for Australia’s future.

The effects of holding space on growth and survival of individually reared three-spot crab (Portunus sanguinolentus).

The problem of cannibalism in communally reared crabs can be eliminated by separating the growing crabs into holding compartments. There is currently no information on optimal compartment size for growing crabs individually. 136 second instar crablets (Portunus sanguinolentus) (C2 ca. 7-10 mm carapace width (CW)) were grown for 90 days in 10 different-sized opaque and transparent walled acrylic compartments. The base area for each compartment ranged from small (32 mm × 32 mm) to large (176 mm × 176 mm). Effects of holding space and wall transparency on survival, CW, moult increment, intermoult period and average weekly gain (AWG) were examined. Most crabs reached instars C9-C10 (50-70 mm CW) by the end of experiment. The final survival rate in the smallest compartment was 25% mainly due to moult-related mortality predominantly occurring at the C9 instar. However, crabs in these smaller compartments had earlier produced significantly larger moult increments from instar to instar than those in the larger compartments (P < 0.05). Crabs in the smaller compartments (<65 mm × 65 mm) also showed significantly longer moult periods (P < 0.05). The net result was that AWG in CW was 5.22 mm week-1 for the largest compartment and 5.15 mm week-1 in smallest and did not differ significantly between compartment size groups (P = 0.916). Wall transparency had no impact on survival (P = 0.530) but a slight impact on AWG (P = 0.014). Survival rate was the best indicator of minimum acceptable compartment size (?43 mm × 43 mm) for C10 crablets because below this size death occurred before growth rate was significantly affected. For further growth, it would be necessary to transfer the crablets to larger compartments.

Evaluation of three storage systems used for chilling and holding swordfish

Swordfish are kept chilled, not frozen, for up to 15 days before being unloaded at Australian ports. Swordfish landed alive, and to a lesser extent prerigor, have better quality when unloaded. Warmer fishing waters did not lead to poorer quality at unloading. There was a serious loss of quality during long fishing trips. Sex had no influence on swordfish quality. Three methods of chilling were evaluated: refrigerated seawater (RSW) chilling for up to 2 days followed by storage under ice, refrigerated brine (seawater with extra salt added) for up to 2 days followed by storage in a freshwater ice slurry, and ice slurry (freshwater ice mixed with seawater) for up to 2 days followed by storage under ice only. Two fishing trips were monitored for each method. The freshness indicator K value was used to determine which method produced the best quality swordfish when unloaded at the factory. Storage method played a larger role in quality loss than capture conditions. Refrigerated brine produced the best quality swordfish when the machinery functioned properly closely followed by RSW. Ice slurry chilling of large fish such as swordfish exhibited initial delays in the reduction of core temperature which led to lower quality. This method could be improved with the addition of mechanical circulation. Mechanical problems, which resulted in minor increases of temperature during brine storage, led to a much larger loss of quality than would be expected.

Quality of handling and holding yard environment, and beef cattle temperament: 1. Relationships with flight speed and fear of humans.

Numerous tests have been used to measure beef cattle temperament, but limited research has addressed the relationship between such tests and whether temperament can be modified. One-hundred-and-forty-four steers were given one of three human handling and yarding experiences on six occasions during a 12-month grazing period post-weaning (backgrounding): Good handling/yarding, Poor handling/yarding and Minimal handling/yarding. At the end of this phase the cattle were lot-fed for 78 days, with no handling/yarding treatments imposed, before being transported for commercial slaughter. Temperament was assessed at the start of the experiment, during backgrounding and lot-feeding by flight speed (FS) and a fear of humans test, which measured the proximity to a stimulus person (zone average; ZA), the closest approach to the person (CA) and the amount the cattle moved around the test arena (total transitions; TT). During backgrounding, FS decreased for all treatments and at the end of backgrounding there was no difference between them. The rate of decline, however, was greatest in the Good group, smallest in the Minimal group with the Poor intermediate. In contrast, ZA was affected by treatment, with a greater reduction for the Good group than the others (P = 0.012). During lot-feeding, treatment did not affect FS, but all groups showed a decrease in ZA, with the greatest change in the Poor group, the least in the Good and the Minimal intermediate (P = 0.052). CA was positively correlated with ZA (r = 0.18 to 0.66) and negatively with TT (r = -0.180 to -0.659). FS was consistently correlated with TT only (r = 0.17 to 0.49). These findings suggest that FS and TT measure a similar characteristic, as do ZA and CA, but that these characteristics are different from one another, indicating that temperament is not a unitary trait, but has different facets. FS and TT measure one facet that we suggest is general agitation, whilst ZA and CA measure fear of people. Thus, the cattle became less agitated during backgrounding, but the effect was not permanently influenced by the quantity and quality of handling/yarding. However, Good handling/yarding reduced fearfulness of people. Fear of people was also reduced during lot-feeding, probably as a consequence of frequent exposure to humans in a situation that was neutral or positive for the cattle.

Reproduction of an autographed portrait of Ludwig Bamberger seated holding paper Portraits; Men

Signed Ludwig Bamberger

Portrait of Sophie Gottschalk seated holding a book Portraits Women

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Therese Godshaw (Gottschalk) nee Molling holding her great-grandson, Richard Godshaw; Buffalo, New York.

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Paula Wallerstein nee Molling holding her grandson Hans Stern.

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Portrait of George Louis Wolff (Gerd Ludwig Wolff) holding a mouse in his genetics laboratory; Little Rock, Arkansas.

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Therese Godshaw (Gottschalk) nee Molling holding her great-grandson, Richard Godshaw; Buffalo, New York.

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Portrait of Leo Catzenstein with his mother-in-law Henriette Gottschalk holding a parasol Portraits Family

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Portrait of Aenny Catzenstein nee Gottschalk holding her infant son Franz Portraits Family

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