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SAS Trustee Corporation

PRI reporting framework 2019

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

State Super considers that acting in members' best interests entails a responsibility to ensure that sustainable long term returns are generated and that economic prosperity, community wellbeing and environmental concerns are considered and effectively managed throughout the investment process - both as investment risks and opportunities.

State Super's investment beliefs include:

  • High quality, robust investment governance process is critical to State Super’s success.
  • Investment returns are best considered over the long term (e.g. 7-10+ years).  However, the time horizon that is most relevant for the assets in question should also be considered.
  • Strategic Asset Allocation (SAA) decisions have the greatest impact on investment outcomes, and Dynamic Asset Allocation (DAA) can add additional value by taking advantage of mispricing of risk premia.
  • Active investment management can add additional value, achieving higher returns and/or providing downside protection.
  • Diversification is an important risk management tool and investment outcomes can be improved by appropriate diversification across asset classes, investment styles, time horizons and risk premia.
  • Environmental, social and governance (ESG) factors may materially impact investment risk and returns, particularly over the long term.

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

A new Responsible Investment Policy was initiated during the year, and will be implemented in 2018/19.

01.6. Additional information [Optional].

          
        
I confirm I have read and understood the Accountability tab for SG 01 I confirm I have read and understood the Accountability tab for SG 01

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

URL/Attachment

02.3. Additional information [Optional].

We have provided a copy of the 2013 ESG Policy, however there have been significant changes to State Super's approach to responsible investment during 2017/18 and as result this policy is under review with a new policy due for publication in 2018/19.


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

State Super's approach to avoiding, identifying and managing any conflicts of duties or interests are outlined in the State Super Conflicts Management Policy.

We recognise that Board members may face conflicts of interest in performing their official duties and responsibilities whilst on the Board of State Super. In such cases, disclosures must be made at the first available opportunity to the Chairperson for a decision as to what action should be taken to avoid or deal with the conflict. The Chairperson will make such disclosures to the Board. Any conflicts or potential conflicts raised at a Board or Committee meeting must be recorded in the Board or Committee minutes and, in a summarised form, in the Disclosure of Pecuniary Interests register, together with the actions taken. Staff may face conflicts of interest in performing their official duties and responsibilities whilst at STC. In such cases, disclosures must be made at the first available opportunity to the appropriate manager or CEO for a decision as to what action should be taken to avoid or deal with the conflict. In the case of the CEO, disclosure will be made to the Chairperson.

 

 

 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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