Colonial First State Investments Limited (CFSIL) is an Australian Registrable Superannuation Entity Trustee (RSE Trustee) and Responsible Entity (RE) that provides a range of investment, superannuation and retirement products to individuals and corporate superannuation solutions to employers in Australia. We have over 1 million members, administer over AUD$116 billion and are the largest provider of private pensions in Australia.
CFSIL as a RSE and RE offers investment, superannuation and retirement products. These products have a range of investment options to offer choice and to cater to the needs of individuals. The time horizon of the investment options are aligned to the risk return objectives of the individual options. However, with the purpose of superannuation in Australia being to invest and generate income for retirement, the time horizon is long term.
The different investment options provided by CFSIL ensure that they incorporate the needs of members of various risk profiles. The governance structure ensures that options are managed in member’s best interest, considering investment returns and risk as well as the fees and other costs incurred by the member. CFSIL is not an Investment Manager and does not manage any monies internally. It has a sub advisory relationship with Investment managers, each governed through a bilateral Investment Management Agreement with CFSIL.
CFSIL employs a specialist investment team that is responsible for the investment decisions of the default investment option offered by CFSIL under the APRA regulated MySuper regime. These decisions include the determination of strategic asset allocation, sector strategy and investment manager selection. The investment decisions are governed by the Board delegated Investment Committee that has an Independent non-Executive Chair and two other Independent non-Executive directors
CFSIL has a majority-independent board. The CFSIL Board comprises of an Independent Non-Executive Chair, three Independent Non-Executive Directors, and one non-Independent Non-Executive Director. The Board operates three Independent Non-Executive Director-chaired sub-committees: the Board Investment Committee, the Member Outcomes Committee, and the Board Audit and Risk Committee, to whom management presents various strategic, product, risk and investment recommendations. The Board and associated Committees have oversight of and approval rights for all strategic, risk, product, investment and outsourcing decisions as well as executive management appointment.