WTW to review NZ super fund authority
Willis Towers Watson’s Australian advisory team has been appointed by the New Zealand Minister of Finance, Grant Robertson, to conduct the statutory review of the Government’s Superannuation Fund Authority (GSFA).
GSFA managed and administered the nation’s Government Superannuation Fund.
The review, which took place every five years, would aim to determine how effectively and efficiently the GSFA performed its functions, in particular with regards to ethical investment framework in the context of international best practice standards.
“This includes consideration of how the Authority is taking account of and reporting on climate change,” Tim Mitchell, global head of governance consulting for Willis Towers Watson said.
The review would also address the legislative requirements under the Government Superannuation Fund Act in terms of assessing the GSFA’s statements of investment policies, standards and procedures for their appropriateness and compliance, as well as the fund’s investment performance.
The final report would need to delivered to the Treasury by mid-May this year, the firm said.
Recommended for you
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
