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  <channel>
    <title>AVCAL News Feed</title>
    <link>http://www.avcal.com.au/</link>
    <description>Industry &amp; Policy News</description>
			<item>
	<title><![CDATA[The MIT definition and private equity]]></title>
	<pubDate>Mon 26/07/2010 at 4:44 pm</pubDate>
	<description><![CDATA[This article by Toby Eggleston of Greenwoods &amp; Freehills looks at applying the definition of a Managed Investment Trust (MIT) to PE funds and how that definition may impact the structure of existing and future PE funds in Australia.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/the-mit-definition-and-private-equity/1307</link>
</item>	<item>
	<title><![CDATA[ATO form for Managed Investment Trusts: election into capital treatment]]></title>
	<pubDate>Thu 22/07/2010 at 3:55 pm</pubDate>
	<description><![CDATA[Trustees of MITs that came into existence prior to the 2009-10 income year must use this form for making an election for capital treatment in accordance with section 275-115 of the ITAA 1997.
Once this form is completed, the election will have effect for the 2008-09 and later income years.
]]></description>
	<link>http://avcal.com.au/news/details/policy-news/ato-form-for-managed-investment-trusts-election-into-capital-treatment/1306</link>
</item>	<item>
	<title><![CDATA[Update on EU AIFM Directive: potential implications for non-EU GPs and LPs]]></title>
	<pubDate>Wed 21/07/2010 at 9:30 am</pubDate>
	<description><![CDATA[EVCA has prepared a briefing note outlining the third country treatment under the AIFM Directive as it currently stands. 
The note outlines the potential implications for third country (non-EU) LPs and GPs under the current draft. ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/update-on-eu-aifm-directive-potential-implications-for-non-eu-gps-and-lps/1305</link>
</item>	<item>
	<title><![CDATA[Key findings from JP Morgan's latest poll of institutional investors]]></title>
	<pubDate>Tue 06/07/2010 at 10:18 am</pubDate>
	<description><![CDATA[The "Market Pulse: Alternative Assets Survey" report summarises the key findings from JP Morgan Asset Management's latest poll of institutional investors. This survey encompasses the views of 349 North American investors from 325 institutions. The results confirm that overall, investors are carving out a broader role for alternatives while trimming back traditional long-only equity allocations.   ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/key-findings-from-jp-morgan's-latest-poll-of-institutional-investors/1304</link>
</item>	<item>
	<title><![CDATA[Details of revised MIT definition announced to allow more trusts to benefit from tax concessions ]]></title>
	<pubDate>Mon 21/06/2010 at 3:11 pm</pubDate>
	<description><![CDATA[On 21 June 2010 the Government announced further details of amendments to the definition of a MIT to widen the scope of trusts to benefit from taxation concessions available through the capital account and withholding tax arrangements.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/details-of-revised-mit-definition-announced-to-allow-more-trusts-to-benefit-from-tax-concessions-/1298</link>
</item>	<item>
	<title><![CDATA[Coller Capital Global PE Barometer (Summer 2010)]]></title>
	<pubDate>Tue 15/06/2010 at 10:00 am</pubDate>
	<description><![CDATA[The latest Coller Capital Global PE Barometer indicates that LPs are planning very significant increases to their Asia-Pacific exposure in the next three years. Australia is identified as the most attractive destination for buyouts in the Asia-Pacific region over the next two years, and fifth most attractive for VC/growth capital investment. However, over a third of LPs expect regulatory/tax changes to reduce their returns in developed PE markets over the next few years.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/coller-capital-global-pe-barometer-summer-2010/1303</link>
</item>	<item>
	<title><![CDATA[Government introduces revised definition of MIT in Tax Laws Amendment (2010 Measures No 3) Bill 2010 ]]></title>
	<pubDate>Wed 26/05/2010 at 12:03 pm</pubDate>
	<description><![CDATA[The Government today introduced legislation into Parliament to amend the definition of a Managed Investment Trust for access to withholding tax concessions to more closely align the definition used across different parts of the tax law and to widen access to MIT withholding tax concessions for certain wholesale trusts.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/government-introduces-revised-definition-of-mit-in-tax-laws-amendment-2010-measures-no-3-bill-2010-/1292</link>
</item>	<item>
	<title><![CDATA[New AVCAL Research Prizes 2010: Call for Submissions]]></title>
	<pubDate>Fri 14/05/2010 at 9:47 am</pubDate>
	<description><![CDATA[AVCAL is pleased to announce the introduction of two research prizes in 2010. The aim of this programme is to encourage the development of high-quality research on issues of importance and relevance to the Private Equity and Venture Capital industry in Australia. Submissions are invited from academia and industry participants for these prizes.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/new-avcal-research-prizes-2010-call-for-submissions/1291</link>
</item>	<item>
	<title><![CDATA[Increasing Support for Business R&D]]></title>
	<pubDate>Fri 14/05/2010 at 9:06 am</pubDate>
	<description><![CDATA[According to Sen. Kim Carr’s office the new R&amp;D Tax incentive scheme will stimulate more Australian businesses to undertake R&amp;D compared to the 8,000 businesses under the old tax concession. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/increasing-support-for-business-rd/1289</link>
</item>	<item>
	<title><![CDATA[Treasury releases Consultation Paper on improving conduit income arrangements for managed funds]]></title>
	<pubDate>Wed 12/05/2010 at 9:44 am</pubDate>
	<description><![CDATA[On 11 May 2010, the Government issued a Consultation Paper on the treatment of conduit income of managed funds.  Outcomes of this process will assist the Board of Taxation as it considers the design issues relating to an Investment Manager Regime (IMR).]]></description>
	<link>http://avcal.com.au/news/details/policy-news/treasury-releases-consultation-paper-on-improving-conduit-income-arrangements-for-managed-funds/1284</link>
</item>	<item>
	<title><![CDATA[Government's Response to Board of Taxation's Review of MITs]]></title>
	<pubDate>Sat 08/05/2010 at 9:51 am</pubDate>
	<description><![CDATA[On 7 May 2010, the Assistant Treasurer announced the release of the Board of Taxation's report on its review of the tax arrangements applying to managed investment trusts.

]]></description>
	<link>http://avcal.com.au/news/details/policy-news/government's-response-to-board-of-taxation's-review-of-mits/1285</link>
</item>	<item>
	<title><![CDATA[Revised MIT Exposure Draft Tax Laws Amendment released for consultation]]></title>
	<pubDate>Mon 19/04/2010 at 9:00 am</pubDate>
	<description><![CDATA[The Assistant Treasurer has released for public consultation the exposure draft legislation that will amend the definition of a managed investment trust (MIT) in relation to withholding tax rules. The closing date for submissions is Friday 23 April 2010. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/revised-mit-exposure-draft-tax-laws-amendment-released-for-consultation/758</link>
</item>	<item>
	<title><![CDATA[Second R&D Tax Incentive Exposure Draft Legislation Released]]></title>
	<pubDate>Wed 31/03/2010 at 10:19 am</pubDate>
	<description><![CDATA[Further to submissions on the first exposure draft, the Treasury and DIISR have released the second R&amp;D tax incentive exposure draft.
The Government still expects to start the incentive programme on 1 July 2010. The closing date for submissions on the second draft exposure is 19 April 2010.



]]></description>
	<link>http://avcal.com.au/news/details/policy-news/second-rd-tax-incentive-exposure-draft-legislation-released/752</link>
</item>	<item>
	<title><![CDATA[Minister Sherry speaks on the importance of PE & VC in Australia]]></title>
	<pubDate>Thu 04/03/2010 at 2:48 pm</pubDate>
	<description><![CDATA[Asst Treasurer Senator Nick Sherry spoke today at the AVCJ conference on the importance of PE and VC financing as part of a diverse investment landscape in Australia.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/minister-sherry-speaks-on-the-importance-of-pe--vc-in-australia/748</link>
</item>	<item>
	<title><![CDATA[A Guide on Climate Change for Private Equity Investors ]]></title>
	<pubDate>Thu 04/03/2010 at 2:08 pm</pubDate>
	<description><![CDATA[The Institute of Investors Group on Climate Change which is a forum for the collaboration of climate change for European investors recently published a guide designed to provide direction to limited partners investing in private equity funds. The publication discusses the risks and opportunities that surround climate change and related policy developments.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/a-guide-on-climate-change-for-private-equity-investors-/747</link>
</item>	<item>
	<title><![CDATA[AVCAL submission to the new R&D Tax Incentive Exposure Draft Legislation]]></title>
	<pubDate>Thu 11/02/2010 at 2:58 pm</pubDate>
	<description><![CDATA[AVCAL has submitted its responses to the new R&amp;D tax incentive exposure draft and explanatory materials released by the Treasury. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-the-new-rd-tax-incentive-exposure-draft-legislation/738</link>
</item>	<item>
	<title><![CDATA[AVCAL submissions to ATO on draft determinations D17 and D18 ]]></title>
	<pubDate>Fri 29/01/2010 at 4:00 pm</pubDate>
	<description><![CDATA[AVCAL today submitted its responses to the Australian Tax Office draft determinations TD 2009/17 and TD 2009/D18, which were made available for public comment on 16 December 2009. Read the media release and responses here. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submissions-to-ato-on-draft-determinations-d17-and-d18-/731</link>
</item>	<item>
	<title><![CDATA[AVCAL welcomes the Johnson report on Australia as a Financial Centre]]></title>
	<pubDate>Fri 15/01/2010 at 1:23 pm</pubDate>
	<description><![CDATA[AVCAL welcomes the Johnson report on Australia as a Financial Centre which contains comprehensive, timely and critical recommendations for Australia's financial services sector.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-welcomes-the-johnson-report-on-australia-as-a-financial-centre/725</link>
</item>	<item>
	<title><![CDATA[Commercialisation Australia Program Direction No. 1]]></title>
	<pubDate>Wed 13/01/2010 at 1:32 pm</pubDate>
	<description><![CDATA[Minister for Innovation, Industry, Science and Research, Senator Kim Carr, recently released the first directive for the Commercialisation Australia Program. It has been developed under the Industry Research and Development Act 1986 to provide direction to Innovation Australia (the Board).]]></description>
	<link>http://avcal.com.au/news/details/policy-news/commercialisation-australia-program-direction-no-1/726</link>
</item>	<item>
	<title><![CDATA[AVCAL submission to Treasury on MIT capital treatment]]></title>
	<pubDate>Thu 24/12/2009 at 1:04 pm</pubDate>
	<description><![CDATA[Read AVCAL's submission to Treasury on Tax laws Amendment (2010 Measures No.1) Bill 2010: MIT capital treatment.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-treasury-on-mit-capital-treatment/722</link>
</item>	<item>
	<title><![CDATA[Commercialisation Australia prepares to take applications]]></title>
	<pubDate>Mon 21/12/2009 at 1:55 pm</pubDate>
	<description><![CDATA[Commercialisation Australia is now preparing to accept applications from Australian innovators as it launched a range of online and telephone resources to assist potential applicants with a pre-application checklist and other relevant information.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/commercialisation-australia-prepares-to-take-applications/727</link>
</item>	<item>
	<title><![CDATA[AVCAL today called on the Federal government to urgently develop legislation to restore international investor confidence in Australia.]]></title>
	<pubDate>Thu 17/12/2009 at 8:38 am</pubDate>
	<description><![CDATA[AVCAL response to ATO draft determinations ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-today-called-on-the-federal-government-to-urgently-develop-legislation-to-restore-international-investor-confidence-in-australia/719</link>
</item>	<item>
	<title><![CDATA[Draft Taxation Determinations and Rulings on ITAA]]></title>
	<pubDate>Wed 16/12/2009 at 2:43 pm</pubDate>
	<description><![CDATA[The ATO today released several draft determinations and rulings in relation to the Income Tax Assessment Act. Read the releases here. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/draft-taxation-determinations-and-rulings-on-itaa/721</link>
</item>	<item>
	<title><![CDATA[Draft Legislation on Tax Treatment of Managed Investment Trusts Disposals]]></title>
	<pubDate>Thu 10/12/2009 at 5:05 pm</pubDate>
	<description><![CDATA[Assistant Treasurer Nick Sherry today released the Rudd Government’s draft on the taxation of capital gains and loses of Managed Investment Trust disposals. The deadline for public comment on the draft and the accompanying explanatory material is the 24th of December, 2009. The Government aims to introduce the Bill by early 2010.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/draft-legislation-on-tax-treatment-of-managed-investment-trusts-disposals/714</link>
</item>	<item>
	<title><![CDATA[Commercialisation Australia]]></title>
	<pubDate>Tue 01/12/2009 at 9:56 am</pubDate>
	<description><![CDATA[The launch of Commercialisation Australia in January 2010 is a new funding approach by the Australian Government where the program will be tailored to each application rather than customising the application to fit the program.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/commercialisation-australia/706</link>
</item>	<item>
	<title><![CDATA[Article by AVCAL Chairman Andrew Rothery in the AFR]]></title>
	<pubDate>Tue 01/12/2009 at 9:41 am</pubDate>
	<description><![CDATA[A recent article written by AVCAL Chairman Andrew Rothery and published in the AFR clears up some of the myths and stereotypes around the Australian private equity industry. The article also talks about the growth strategies used by private equity firms and the current state of the industry.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/article-by-avcal-chairman-andrew-rothery-in-the-afr/705</link>
</item>	<item>
	<title><![CDATA[Australia: 4th most attractive country for VC and PE investment]]></title>
	<pubDate>Mon 23/11/2009 at 10:23 am</pubDate>
	<description><![CDATA[Australia is the 4th most attractive country for investors in VC and PE, according to the 2009/2010 Global VC and PE Country Attractiveness Index just released by IESE and sponsored by Ernst &amp; Young. ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/australia-4th-most-attractive-country-for-vc-and-pe-investment/704</link>
</item>	<item>
	<title><![CDATA[$40m Yuuwa Capital fund to assist WA start-ups]]></title>
	<pubDate>Fri 20/11/2009 at 9:03 am</pubDate>
	<description><![CDATA[The $40m Yuuwa Capital fund based in Western Australia will be made-up of $20m from the Commonwealth (Innovation Investment Fund) and $20m from private sources. The fund will target innovative start-ups in the life science and ICT sectors based in WA. The fund aims to work with research organisations, industry networks and West Australian universities to generate investment opportunities.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/$40m-yuuwa-capital-fund-to-assist-wa-start-ups/702</link>
</item>	<item>
	<title><![CDATA[AVCAL/Thomson Performance Measurement Report FY2009 released]]></title>
	<pubDate>Mon 16/11/2009 at 10:01 am</pubDate>
	<description><![CDATA[This report on the performance of Australian PE and VC funds in FY2009 is now available for download. ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcalthomson-performance-measurement-report-fy2009-released/700</link>
</item>	<item>
	<title><![CDATA[Private Equity in the Spotlight]]></title>
	<pubDate>Fri 13/11/2009 at 11:30 am</pubDate>
	<description><![CDATA[Read Anneli Knight's article in BusinessDay on "Private Equity in the Spotlight". The PE industry has been in the limelight with recent high-profile IPOs. But the industry usually prefers to get on with the job of rebuilding and increasing the value of companies without fanfare. This article looks behind the scenes to get a sense of how the PE industry goes about its way of doing business.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/private-equity-in-the-spotlight/699</link>
</item>	<item>
	<title><![CDATA[Australian Financial Review: Warning on decline in VC fundraising]]></title>
	<pubDate>Wed 04/11/2009 at 9:41 am</pubDate>
	<description><![CDATA[Read Brian Corrigan's article in the Australian Financial Review, highlighting the fact that a continued decline in VC fund raising would leave Australia at an economic disadvantage.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/australian-financial-review-warning-on-decline-in-vc-fundraising/701</link>
</item>	<item>
	<title><![CDATA[AVCAL releases FY2009 PE and VC Activity Figures]]></title>
	<pubDate>Tue 03/11/2009 at 7:00 am</pubDate>
	<description><![CDATA[The AVCAL 2009 Yearbook, produced in partnership with Ernst &amp; Young, provides an overview of PE and VC fundraising, investment and divestment activity in FY2009.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-releases-fy2009-pe-and-vc-activity-figures/694</link>
</item>	<item>
	<title><![CDATA[PE continues to outperform public markets]]></title>
	<pubDate>Tue 27/10/2009 at 9:10 am</pubDate>
	<description><![CDATA[A recent study by Ernst &amp; Young, Challenges in a New World, shows PE-backed companies remained resilient in the face of the GFC. The study covered 13 divestments in 2008, across Australia and New Zealand with initial investments above $25million.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/pe-continues-to-outperform-public-markets/692</link>
</item>	<item>
	<title><![CDATA[Reform to the Taxation of Employee Share Schemes]]></title>
	<pubDate>Wed 21/10/2009 at 4:23 pm</pubDate>
	<description><![CDATA[The final form of the legislation to reform the taxation of employee share option scheme was revealed today. Reforms to the legislation affecting start-up, R&amp;D or speculative focused companies are still under review by the Board of Taxation. A report with their findings will be submitted to the Government by February, 2010.
]]></description>
	<link>http://avcal.com.au/news/details/policy-news/reform-to-the-taxation-of-employee-share-schemes/691</link>
</item>	<item>
	<title><![CDATA[Commercialisation Australia Launched]]></title>
	<pubDate>Wed 21/10/2009 at 4:10 pm</pubDate>
	<description><![CDATA[The $196million Commercialisation Australia initiative (FKA: Commonwealth Commercialisation Institute) was unveiled today by the Minister for Innovation, Industry, Science and Research, Senator Kim Carr.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/commercialisation-australia-launched/690</link>
</item>	<item>
	<title><![CDATA[PEI Media - PE in Australia]]></title>
	<pubDate>Fri 18/09/2009 at 1:49 pm</pubDate>
	<description><![CDATA[As described in the recent publication by PEI Media on Asia, Australian PE has experienced shortage of credit, low investment activities and the lack of the much anticipated bargain deals. However, spirits remain high on grounds of the relatively stable economy and banking system.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/pei-media---pe-in-australia/670</link>
</item>	<item>
	<title><![CDATA[Revised IPEV Guidelines released ]]></title>
	<pubDate>Wed 09/09/2009 at 9:13 am</pubDate>
	<description><![CDATA[In May 2009, the IPEV Board called for comments on the exposure draft of the 2009 edition of the IPEV Guidelines. On 9 September 2009, the final revised Guidelines were released.

These Guidelines should be regarded as superseding previous Guidelines issued by the IPEV Board, with effect for reporting periods post 1 July 2009.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/revised-ipev-guidelines-released-/666</link>
</item>	<item>
	<title><![CDATA[$243m Allocated towards collaborative research and innovation]]></title>
	<pubDate>Mon 10/08/2009 at 5:01 am</pubDate>
	<description><![CDATA[$243m has been allocated towards collaborative research and innovation under the Australian Government's Cooperative Research Centres (CRC) Program. This announcement from Sen. Kim Carr, Minister for Innovation, Industry, Science and Research, comes after 10 CRCs successful inclusion in the 11th selection round.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/$243m-allocated-towards-collaborative-research-and-innovation/658</link>
</item>	<item>
	<title><![CDATA[$64m From the IIFF allocated to 11 fund managers]]></title>
	<pubDate>Sun 09/08/2009 at 11:35 pm</pubDate>
	<description><![CDATA[Sen. Kim Carr, Minister for Innovation, Industry, Science and Research has announced 11 successful fund managers who have been allocated $64m from the IIFF. The 11 fund managers were chosen from a pool of 20 applicants. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/$64m-from-the-iiff-allocated-to-11-fund-managers/657</link>
</item>	<item>
	<title><![CDATA[Update on the 2009 IPEV Guidelines ]]></title>
	<pubDate>Wed 15/07/2009 at 4:45 pm</pubDate>
	<description><![CDATA[In May 2009, the IPEV Board called for comments on the exposure draft of the 2009 edition of the IPEV Guidelines. IPEV has announced that the new Guidelines, applying to reporting periods after 1 July 2009, will be published by early September. ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/update-on-the-2009-ipev-guidelines-/649</link>
</item>	<item>
	<title><![CDATA[Submission to Treasury in response to Treasury discussion paper on tax treatment of MITs]]></title>
	<pubDate>Fri 10/07/2009 at 5:40 pm</pubDate>
	<description><![CDATA[Read AVCAL's submission to Treasury in response to the Treasury discussion paper on tax treatment of Managed Investment Trusts (MITs).]]></description>
	<link>http://avcal.com.au/news/details/policy-news/submission-to-treasury-in-response-to-treasury-discussion-paper-on-tax-treatment-of-mits/717</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to Board of Taxation on Limited Partnership structures]]></title>
	<pubDate>Thu 09/07/2009 at 5:32 pm</pubDate>
	<description><![CDATA[Read AVCAL's submission to the Board of Taxation on Limited Partnership structures]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-board-of-taxation-on-limited-partnership-structures/716</link>
</item>	<item>
	<title><![CDATA[Address to the Committee for Economic Development of Australia by Senator Kim Carr]]></title>
	<pubDate>Tue 07/07/2009 at 2:35 pm</pubDate>
	<description><![CDATA[A recent presentation by Senator Kim Carr, Minister for Innovation, Industry, Science and Research, outlines the effects of the Government R&amp;D spending on the broader economy. 
]]></description>
	<link>http://avcal.com.au/news/details/policy-news/address-to-the-committee-for-economic-development-of-australia-by-senator-kim-carr/644</link>
</item>	<item>
	<title><![CDATA[ASIC guidance on FY2009 financial reports]]></title>
	<pubDate>Mon 29/06/2009 at 9:00 am</pubDate>
	<description><![CDATA[ASIC has highlighted a number of areas on which company Boards and those responsible for the preparation of financial reports should focus in the upcoming reporting period. This includes guidance on the reporting of asset impairments, fair value determination, off balance sheet arrangements and financial instrument disclosures.  ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/asic-guidance-on-fy2009-financial-reports/639</link>
</item>	<item>
	<title><![CDATA[InvestorDaily: Aussie private equity remains well capitalised]]></title>
	<pubDate>Wed 17/06/2009 at 9:18 am</pubDate>
	<description><![CDATA[Dr Katherine Woodthorpe talks to InvestorDaily about the current state of play in the Australian private equity market. The article also highlights AVCAL's work among LPs to try to standardise an improved level of reporting and its new annual award for excellence in reporting, which is being judged by a panel of LPs.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/investordaily-aussie-private-equity-remains-well-capitalised/638</link>
</item>	<item>
	<title><![CDATA[Taking the risk out of raising capital]]></title>
	<pubDate>Tue 16/06/2009 at 9:25 am</pubDate>
	<description><![CDATA[The recent article in the Brisbane Business News magazine outlines the peaks and troughs the Australian VC industry has undergone over the years. The article also quotes AVCAL CEO, Dr. Katherine Woodthorpe, on the current state of the VC industry.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/taking-the-risk-out-of-raising-capital/637</link>
</item>	<item>
	<title><![CDATA[$71.3million announced from the ARC for 238 projects]]></title>
	<pubDate>Thu 11/06/2009 at 11:35 am</pubDate>
	<description><![CDATA[Minister Kim Carr announced $71.3million in funding under the round 2 of the Australian Research Council (ARC) Linkage Project scheme to be shared by 238 projects. 
]]></description>
	<link>http://avcal.com.au/news/details/policy-news/$713million-announced-from-the-arc-for-238-projects/635</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to Treasury on Employee Share Scheme Consultation Paper]]></title>
	<pubDate>Thu 11/06/2009 at 9:24 am</pubDate>
	<description><![CDATA[Read AVCAL's submission in response to Treasury's request for comment on the “Reform of the Taxation of Employee Share
Schemes”]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-treasury-on-employee-share-scheme-consultation-paper/713</link>
</item>	<item>
	<title><![CDATA[AFR: Agile private equity has plenty of scope]]></title>
	<pubDate>Fri 05/06/2009 at 4:19 pm</pubDate>
	<description><![CDATA[Despite the global downturn, private equity and venture capital can adapt to find new opportunities, writes Michael Rennie.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/afr-agile-private-equity-has-plenty-of-scope/636</link>
</item>	<item>
	<title><![CDATA[Employee Share Schemes Consultation Paper released]]></title>
	<pubDate>Fri 05/06/2009 at 3:40 pm</pubDate>
	<description><![CDATA[The Government has just released its consultation paper and draft legislation on the tax treatment of Employee Share Schemes. Submissions are due next Friday 12 June 2009.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/employee-share-schemes-consultation-paper-released/633</link>
</item>	<item>
	<title><![CDATA[Advent Private Capital celebrates its 25th anniversary]]></title>
	<pubDate>Tue 02/06/2009 at 3:06 pm</pubDate>
	<description><![CDATA[Celebrating its 25th anniversary as a private equity fund manager this month is Melbourne’s Advent Private Capital.  With more than 90 individual investments in private companies, Advent is one of Australia’s longest running private equity firms.  Advent’s investment staff collectively have 82 years in the private equity industry. Granted an MIC license in 1984 as Western Pacific Management Company Pty Ltd, the firm went on to establish a management company in partnership with Advent International of Boston, USA and subsequently listed Advent Limited on the ASX.  ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/advent-private-capital-celebrates-its-25th-anniversary/629</link>
</item>	<item>
	<title><![CDATA[Treasury releases discussion paper on capital account election]]></title>
	<pubDate>Mon 01/06/2009 at 3:25 pm</pubDate>
	<description><![CDATA[The Assistant Treasurer, Chris Bowen, announced the release of a Treasury discussion paper on proposed changes to the taxation treatment of disposals of investments by Managed Investments Trusts (MITs). The discussion paper is seeking comment on the design and implementation details of the changes to give effect to the Government's 2009-10 Budget decision to allow MITs to elect capital account treatment for gains and losses on disposal of their investments. The changes are to have effect from the 2008-09 and later income years. The changes will provide more taxation certainty for MITs and their investors that elect into the regime, Mr Bowen said.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/treasury-releases-discussion-paper-on-capital-account-election/630</link>
</item>	<item>
	<title><![CDATA[IASB publishes draft guidance on fair value measurement]]></title>
	<pubDate>Fri 29/05/2009 at 12:21 pm</pubDate>
	<description><![CDATA[The International Accounting Standards Board (IASB) has published for public comment draft guidance on fair value measurement.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/iasb-publishes-draft-guidance-on-fair-value-measurement/628</link>
</item>	<item>
	<title><![CDATA[Dow Jones PE News: AVCAL, BVCA promote ethical reform]]></title>
	<pubDate>Mon 25/05/2009 at 9:11 pm</pubDate>
	<description><![CDATA[Dow Jones Private Equity News reported today on work by AVCAL and its British counterpart (BVCA) in boosting firms' efforts in social, environmental and corporate governance through promoting responsible investment principles among their members. ]]></description>
	<link>http://avcal.com.au/news/details/industry-news/dow-jones-pe-news-avcal-bvca-promote-ethical-reform/626</link>
</item>	<item>
	<title><![CDATA[IPEV Board releases new Exposure Draft]]></title>
	<pubDate>Mon 25/05/2009 at 9:08 am</pubDate>
	<description><![CDATA[The International Private Equity and Venture Capital Valuation (IPEV) Board has released its exposure draft of the new IPEV Valuation Guidelines, which is open for feedback until 12 June 2009.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/ipev-board-releases-new-exposure-draft/625</link>
</item>	<item>
	<title><![CDATA[Australia as a regional financial hub - Next steps]]></title>
	<pubDate>Thu 14/05/2009 at 11:16 am</pubDate>
	<description><![CDATA[The Government has announced new reforms to help Australian managed funds and other business compete on the global platform. It will implement the Board of Taxation's interim advice on taxation of managed funds to provide deemed capital account treatment for gains and losses made on disposal of investment assets by MITs. The Government will also introduce changes to the attribution rules that will dramatically reduce complexity and compliance costs for affected businesses. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/australia-as-a-regional-financial-hub---next-steps/621</link>
</item>	<item>
	<title><![CDATA[Clean Energy Initiative]]></title>
	<pubDate>Wed 13/05/2009 at 11:08 am</pubDate>
	<description><![CDATA[The Government will invest $4.5b to support in clean energy generation and new technology with an aim to reduce carbon emission and support economic activities.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/clean-energy-initiative/619</link>
</item>	<item>
	<title><![CDATA[APRA letter to Trustees on valuation practices for unlisted assets]]></title>
	<pubDate>Thu 16/04/2009 at 6:14 pm</pubDate>
	<description><![CDATA[Read APRA's letter to Trustees clarifying its expectations in relation to practices undertaken in the valuation of unlisted assets held by the superannuation fund(s) under their trusteeship.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/apra-letter-to-trustees-on-valuation-practices-for-unlisted-assets/583</link>
</item>	<item>
	<title><![CDATA[Financier Worldwide - Managing Private Equity Portfolio Companies in Australia ]]></title>
	<pubDate>Mon 30/03/2009 at 3:54 pm</pubDate>
	<description><![CDATA[This article by Claire Spencer from Financier Worldwide looks at the changing business model Private Equity funds are currently adapting as a result of certain keys issues faced by the industry in Australia.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/financier-worldwide---managing-private-equity-portfolio-companies-in-australia-/591</link>
</item>	<item>
	<title><![CDATA[IPEV comment letter on IASB Exposure Draft ED10 Consolidated Financial Statements]]></title>
	<pubDate>Wed 25/03/2009 at 5:24 pm</pubDate>
	<description><![CDATA[The International Private Equity and Venture Capital Valuation Board (IPEV Board) provides its views on the IASB Exposure Draft ED10 Consolidated Financial Statements.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/ipev-comment-letter-on-iasb-exposure-draft-ed10-consolidated-financial-statements/584</link>
</item>	<item>
	<title><![CDATA[AVCAL: US VC Funds cashed up]]></title>
	<pubDate>Fri 20/03/2009 at 12:30 pm</pubDate>
	<description><![CDATA[Statistics released this week from the National Venture Capital Association (NVCA) and Thomson Financial show that VC fund raising in the United States have reached their highest level since 2001. During 2007, 235 venture capital firms raised in excess of $34.7 billion. This was divided across the range of VC investment, early stage funds raised $9.7 bn, balanced stage $10.6 bn, later stage $7.2 bn and expansion funds raised $4.8 bn. The three largest funds created over the year included:]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-us-vc-funds-cashed-up/339</link>
</item>	<item>
	<title><![CDATA[AVCAL: Superannuation and Future Fund looking to Private Equity]]></title>
	<pubDate>Fri 20/03/2009 at 11:05 am</pubDate>
	<description><![CDATA[According to the survey conducted by John Evans, associate professor at the University of New South Wales, Australian superannuation funds have increased their commitment to private equity investment from 4.5 percent (2005) to 6 percent (2008). The survey sponsored by private equity fund manager, Adveq Management covered more than 40 Australian Superannuation funds, with $250 billion in funds under management.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-superannuation-and-future-fund-looking-to-private-equity/329</link>
</item>	<item>
	<title><![CDATA[AVCAL submission to Australian Financial Centre Forum]]></title>
	<pubDate>Thu 05/03/2009 at 12:41 pm</pubDate>
	<description><![CDATA[Read AVCAL’s submission to the AFCF, a panel of independent experts gathered by the Government to examine the barriers to improving Australia's regional competitiveness in the financial services sector.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-australian-financial-centre-forum/587</link>
</item>	<item>
	<title><![CDATA[AVCAL article in the Sydney Morning Herald]]></title>
	<pubDate>Wed 25/02/2009 at 8:47 am</pubDate>
	<description><![CDATA[AVCAL Chief Executive Dr Katherine Woodthorpe comments on the challenges facing the Australian VC industry and what the Government can do to assist in its survival.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-article-in-the-sydney-morning-herald/515</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to Board of Taxation on taxation of gains derived from managed funds]]></title>
	<pubDate>Wed 17/12/2008 at 5:09 pm</pubDate>
	<description><![CDATA[Read AVCAL's submission to the Board of Taxation on the tax treatment of gains derived from managed funds. ]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-board-of-taxation-on-taxation-of-gains-derived-from-managed-funds/715</link>
</item>	<item>
	<title><![CDATA[Financier Worldwide: Private equity – Opportunities in the midst of crisis]]></title>
	<pubDate>Sun 07/12/2008 at 11:00 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/industry-news/financier-worldwide-private-equity-–-opportunities-in-the-midst-of-crisis/320</link>
</item>	<item>
	<title><![CDATA[The Australian: Venture capital improves corporate governance]]></title>
	<pubDate>Fri 28/11/2008 at 5:06 pm</pubDate>
	<description><![CDATA[COMPANIES receiving VC backing are generally better at corporate governance when they list on the stock exchange than those that have not gone down the venture capital path, according to a study by the Australian School of Business.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/the-australian-venture-capital-improves-corporate-governance/598</link>
</item>	<item>
	<title><![CDATA[Review of the National Innovation System ]]></title>
	<pubDate>Wed 10/09/2008 at 3:51 pm</pubDate>
	<description><![CDATA[The Review of the National Innovation System has been completed.
The Government is currently considering the recommendations of the Review.
]]></description>
	<link>http://avcal.com.au/news/details/policy-news/review-of-the-national-innovation-system-/346</link>
</item>	<item>
	<title><![CDATA[KPMG: 2008 Capital Markets Survey]]></title>
	<pubDate>Mon 14/07/2008 at 12:00 am</pubDate>
	<description><![CDATA[KPMG has released its 2008 Capital Markets Survey.

The private equity commentary states that while tighter credit conditions clearly had an impact on the top end of market, fund raising an mid-market deals did not vanish.

A copy of the survey can be downloaded at the KPMG website.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/kpmg-2008-capital-markets-survey/321</link>
</item>	<item>
	<title><![CDATA[AVCAL: Australia punching above its weight in PE]]></title>
	<pubDate>Mon 07/07/2008 at 12:00 am</pubDate>
	<description><![CDATA[Australia's relatively tiny population of 20.6 million (0.3% of global population) often manages to contribute one to two percent of most figures in the economic world. The 2007 nominal Gross Domestic Product (GDP) was $908 billion US dollars, representing 1.7% of global output. The Australian Securities Exchange (ASX) contains 2.2% of the value of all the exchanges within World Federation of Exchanges (WFE). The constantly growing Australian Private Equity (PE) industry is no different.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-australia-punching-above-its-weight-in-pe/322</link>
</item>	<item>
	<title><![CDATA[25 Jun 2008 – Watson Wyatt: Global appetite for Private Equity Fund-of-Funds]]></title>
	<pubDate>Wed 25/06/2008 at 11:22 am</pubDate>
	<description><![CDATA[GLOBAL – June 23, 2008 - During 2007 alternative assets* managed on behalf of pension funds by the world’s largest 99 investment managers grew by 40% to US$822bn from US$586bn the year before, according to the latest Global Alternatives 99 research produced by Watson Wyatt in conjunction with Global Investor magazine. According to the research, over half the top 99 managers are based in the US, while over a third are based in Europe. Real estate managers lead the ranking, occupying the top nine positions and accounting for 62% of the assets. Infrastructure managers were included in the research for the first time this year and all ten new entrants were ranked in the top 99 and account for 5% of the assets.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/25-jun-2008-–-watson-wyatt-global-appetite-for-private-equity-fund-of-funds/323</link>
</item>	<item>
	<title><![CDATA[AVCAL response to Commercial Ready removal]]></title>
	<pubDate>Wed 18/06/2008 at 3:47 pm</pubDate>
	<description><![CDATA[The combination of Commercial Ready Grants with VC funds has played an important role in the success of many Australian technology firms.  Clearly, Venture Capital assists with the market inefficiencies of financing early stage entities and there is a need for programs such as Commercial Ready to close the funding gap.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-response-to-commercial-ready-removal/345</link>
</item>	<item>
	<title><![CDATA[AVCAL: Return of the buyouts?]]></title>
	<pubDate>Wed 18/06/2008 at 11:28 am</pubDate>
	<description><![CDATA[Two bids have been made on publicly listed companies, toy distributor Funtastic (tk: FUN) by Archer Capital ($132 mil) and Bravura Solutions (tk: BVA), a supplier of administration and management applications ($272 mil) by Ironbridge. If either go through they will be the first public to private transactions bids since Coates Hire buyout led by Carlyle (tk: COA) back in January.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-return-of-the-buyouts/324</link>
</item>	<item>
	<title><![CDATA[Ernst & Young: The new financing environment ]]></title>
	<pubDate>Mon 16/06/2008 at 11:40 am</pubDate>
	<description><![CDATA[The market for funding private equity-led leveraged buyouts has changed beyond all recognition in the last 12 months. Just 12 months ago, Allco was leading its $11 billion buyout of Qantas, KKR was bidding $18.2 billion for Coles, and Perpetual knocked back a Carlyle-led $3 billion bid for APN News &amp; Media.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/ernst--young-the-new-financing-environment-/325</link>
</item>	<item>
	<title><![CDATA[AVCAL: Australian Private Equity: 2008 Market Review ]]></title>
	<pubDate>Sat 14/06/2008 at 11:44 am</pubDate>
	<description><![CDATA[Purchases and exits within the market dramatically declined as credit became too expensive and the equity markets became an unreliable method of selling assets. Meanwhile, fund raising continued throughout the year, slowing sometime after the rest of the market slowdown.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-australian-private-equity-2008-market-review-/326</link>
</item>	<item>
	<title><![CDATA[Additional Submission to the Review of NIS: Closure of Commercial Ready (June 10th, 2008) ]]></title>
	<pubDate>Tue 10/06/2008 at 3:54 pm</pubDate>
	<description><![CDATA[The combination of Commercial Ready Grants with Venture Capital funding has played an
important role in the success of many Australian technology firms. Venture Capital assists with the
market challenges of financing early stage entities and there is an additional need for programs such as Commercial Ready to close the funding gap.

It is necessary for Australia to continue to produce innovative companies into the 21st century. The mining boom will not last forever. The removal of Commercial Ready will impede many businesses from commercialising their innovation and will prohibit the creation of numerous successful enterprises to support the Australian economy.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/additional-submission-to-the-review-of-nis-closure-of-commercial-ready-june-10th-2008-/347</link>
</item>	<item>
	<title><![CDATA[New Investment to target NZ Biotech]]></title>
	<pubDate>Thu 05/06/2008 at 11:50 am</pubDate>
	<description><![CDATA[Developing new biotechnology businesses in New Zealand is the focus for a new investment partnership involving the New Zealand Venture Investment Fund and Pacific Channel Limited, a private investment company that has demonstrated success in starting and funding biotechnology ventures.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/new-investment-to-target-nz-biotech/327</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to the Review of the National Innovation System]]></title>
	<pubDate>Wed 30/04/2008 at 2:58 pm</pubDate>
	<description><![CDATA[AVCAL is the voice of the Australian Venture Capital (VC) industry, with the great majority of VC funds as members. AVCAL has canvassed these VC members, through both a formal survey and from feedback gathered by VC Representatives on its Council, to prepare this submission.

The foundation of this submission is the indisputable fact that VC underpins a significant proportion of innovation in Australia, particularly in enabling emerging companies to achieve sustainability. The VC industry, with its measured appetite for risk, is often the only substantial financing mechanism that early stage companies can access. Coupled with Government grants,VC investment is vital to national innovation.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-the-review-of-the-national-innovation-system/348</link>
</item>	<item>
	<title><![CDATA[AVCAL: First Quarter Slowdown in Global M&A]]></title>
	<pubDate>Mon 07/04/2008 at 12:43 pm</pubDate>
	<description><![CDATA[According to Thomson Financial, private equity deals globally reached a four year low of US$43.5 bn for the first quarter of 2008, down 77 percent compared to the first quarter of 2007. Against the preceding quarter (4th quarter 2007) this was a 47 percent drop where there was US$82.6 billion of activity. Some have indicated this is the end of the latest ‘era’ of private equity, which had seen six years of continuous growth, peaking in the second quarter of 2007 with nearly US$364 billion of deals completed. On a wider scale the global credit crunch affected all merger and acquisition activity, which fell to US$693 billion down 22 percent for the quarter compared to the previous time last year.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-first-quarter-slowdown-in-global-ma/332</link>
</item>	<item>
	<title><![CDATA[Record Year for Cleantech Venture Investments]]></title>
	<pubDate>Fri 07/03/2008 at 11:46 am</pubDate>
	<description><![CDATA[Results released by Dow Jones VentureSource have shown that globally venture capitalists invested a record US$3 billion into 221 deals throughout 2007, a 41% increase over 2006 investment. The results are inline with data released at the end of November by Thomson Financial and the National Venture Capital Association (NVCA) showing that U.S. venture firms spent nearly $2.6 billion in the sector within the first nine months of the year. According to VentureSource the U.S. was responsible for 83% of the investment throughout the year, accounting for eight percent of the country’s total venture capital investment. Within Europe, VC cleantech investment increased 27% to $360m led by the Nordic region, Spain and Germany.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/record-year-for-cleantech-venture-investments/333</link>
</item>	<item>
	<title><![CDATA[AVCAL: Skipping past the banks]]></title>
	<pubDate>Tue 04/03/2008 at 12:10 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-skipping-past-the-banks/336</link>
</item>	<item>
	<title><![CDATA[New Australian VC in Silicon Valley]]></title>
	<pubDate>Wed 06/02/2008 at 12:06 pm</pubDate>
	<description><![CDATA[Southern Cross Venture Partners have established a new office in Palo Alto, California. The new office for the Sydney-based early stage VC firm will be led by Southern Cross co-founder and managing director John Scull. Mr. Scull co-founded Southern Cross with Bob Christiansen in 2006. Mr. Scull will be joined in California by Australian entrepreneur Dr Larry Marshall.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/new-australian-vc-in-silicon-valley/335</link>
</item>	<item>
	<title><![CDATA[AVCAL: Sovereign Funds cashed up and spending]]></title>
	<pubDate>Thu 31/01/2008 at 12:15 pm</pubDate>
	<description><![CDATA[Sovereign Wealth Funds (SWFs) in the gulf region, are cashed up and impacting the financial marketplace like never before. The SWFs in the six gulf states of Abu Dhabi, Dubai, Kuwait, Oman, Qatar and Saudi Arabia, account for nearly half of the sector through their estimated control of US$1.7 trillion. This staggering amount is roughly equal to the size of all the hedge funds in the world and easily accedes the roughly US$1 trillion in private equity funds.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-sovereign-funds-cashed-up-and-spending/338</link>
</item>	<item>
	<title><![CDATA[AVCAL: Deals are shrinking and changing]]></title>
	<pubDate>Thu 17/01/2008 at 12:33 pm</pubDate>
	<description><![CDATA[It is well known that the credit crisis is causing buyout firms to go after considerably smaller deals with significantly less leverage. According to Thomson Financial, Bain Capital’s deal last week to buy Bright Horizons Family Solutions for US$1.3 billion is the biggest private equity deal to occur in the United States for nearly three months. During the boom times of the last two years, investment banks in the US took home more than US$30 billion in fees associated with private equity deals. However the deals are set for a period of change as investment banks are looking to reduce exposure to the industry as they become increasingly concerned about the level of risk associated with the asset class.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-deals-are-shrinking-and-changing/340</link>
</item>	<item>
	<title><![CDATA[AVCAL: Global decline of the mega deals]]></title>
	<pubDate>Thu 10/01/2008 at 12:46 pm</pubDate>
	<description><![CDATA[The first half of 2007 saw private equity take off, as massive deals became common. In July alone, private equity deals in the United States exceeded US$64 billion. For the remaining months of 2007 deals, dropped to a monthly total below $US8 billion. The "mega deals" virtually disappeared from the market; no deals above US$10 billion were announced after July. For the first half of 2007, the average deal size for transactions over US$1 billion was US$4.2 billion. After July this was halved to US$2.1 billion. Through this time middle market transactions have survived. With the large end of the private equity spectrum getting hit by the "credit crisis", characteristics of the middle market have allowed it to survive.]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-global-decline-of-the-mega-deals/343</link>
</item>	<item>
	<title><![CDATA[AVCAL: Private Equity trading carbon]]></title>
	<pubDate>Thu 10/01/2008 at 12:36 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/industry-news/avcal-private-equity-trading-carbon/341</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to Senate Enquiry Appendix 4]]></title>
	<pubDate>Thu 31/05/2007 at 4:15 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-senate-enquiry-appendix-4/351</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission to Senate Inquiry ]]></title>
	<pubDate>Thu 31/05/2007 at 3:03 pm</pubDate>
	<description><![CDATA[Private equity offers a compelling business model with significant potential to enhance the efficiency of companies both in terms of their operations and financial structure. This has the potential to deliver substantial rewards both for the companies’ owners and for the economy as a whole. This positive contribution to capital markets is expected to increase over time as the private equity market continues to growand mature.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-to-senate-inquiry-/350</link>
</item>	<item>
	<title><![CDATA[AVCAL Supplementary Submission & Annexures (Early Stage)]]></title>
	<pubDate>Thu 14/07/2005 at 4:52 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-supplementary-submission--annexures-early-stage/359</link>
</item>	<item>
	<title><![CDATA[AVCAL Submission: Improving the VCLP to attract global capital]]></title>
	<pubDate>Fri 10/06/2005 at 4:50 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/avcal-submission-improving-the-vclp-to-attract-global-capital/358</link>
</item>	<item>
	<title><![CDATA[Review of the Venture Capital Industry - Terms of Reference]]></title>
	<pubDate>Fri 20/05/2005 at 4:39 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/review-of-the-venture-capital-industry---terms-of-reference/357</link>
</item>	<item>
	<title><![CDATA[State Partnership Act Amendments Passed]]></title>
	<pubDate>Sat 20/03/2004 at 3:21 pm</pubDate>
	<description><![CDATA[State based partnership amendments provide certainty for Venture Capital Investors. Both the New South Wales and Victorian Governments have adopted global best practice with regards to protection of investors in Venture Capital funds.]]></description>
	<link>http://avcal.com.au/news/details/policy-news/state-partnership-act-amendments-passed/353</link>
</item>	<item>
	<title><![CDATA[Venture Capital Bills Welcomed by Australian Industry]]></title>
	<pubDate>Fri 12/12/2003 at 3:31 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/venture-capital-bills-welcomed-by-australian-industry/354</link>
</item>	<item>
	<title><![CDATA[24 Apr 2003 – AVCAL submission on Proposed Amendments to State and Territory Partnership Statutes to Develop a World Best Practice VC Investment Structure]]></title>
	<pubDate>Thu 24/04/2003 at 5:00 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/24-apr-2003-–-avcal-submission-on-proposed-amendments-to-state-and-territory-partnership-statutes-to-develop-a-world-best-practice-vc-investment-structure/360</link>
</item>	<item>
	<title><![CDATA[14 Mar 2003 - AVCAL rejects IASB proposal for the expensing of employee options]]></title>
	<pubDate>Fri 14/03/2003 at 4:04 pm</pubDate>
	<description><![CDATA[]]></description>
	<link>http://avcal.com.au/news/details/policy-news/14-mar-2003---avcal-rejects-iasb-proposal-for-the-expensing-of-employee-options/361</link>
</item>  </channel>
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