Queensland-based institutional fund manager QIC continued investment management functions throughout the Queensland flood crisis and escaped with its Queensland-based investment assets relatively unscathed, the manager announced.
QIC chief executive Doug McTaggart attributed QIC's business continuity plan, two disaster recovery sites and the efforts of staff for allowing the manager to continue to manage client portfolios throughout the period, despite its head office in Brisbane being unavailable for almost two weeks.
As the flood crisis began to emerge, QIC invoked its business continuity plan to maintain business-critical functions and protect its staff. QIC's disaster recovery sites enabled the continuity of systems and provided workstations for Brisbane-based staff, some of whom also worked from home, QIC stated.
Real estate and infrastructure assets in South-East Queensland that are managed by QIC escaped relatively unscathed from the flooding.
Grand Central and Garden Town shopping centres in Toowoomba experienced minor damage but stores in these centres have since reopened for business, while one Brisbane CBD building which had experienced minor flooding is also now fully operational, according to QIC.
Other Queensland-based real estate assets were unaffected and temporary stock supply issues in some shopping centres have now been resolved.
Brisbane Airport infrastructure was undamaged and the airport operated as normal throughout the crisis, while the Port of Brisbane was also undamaged although it was closed from 11 January for safety reasons and reopened on 21 January.
QIC donated $100,000 to the flood relief fund and matched staff contributions dollar-for-dollar, QIC stated.
