27. However, the design of investment portfolios varies widely across countries, reflecting essentially the exposure to liquidity, currency, interest rate and counterparty credit risks and the scope of active management thereof.
But even holding that view, we are confident that a deregulated model with no obstacles to capital movements is the best one for Australia. It took us a long time to adopt it, but there is now wide support for it at the political, policy adviser and community level, and I hear no suggestions that we should change it.