News
Media Release
The PSS and CSS Boards today announced that they
have decided on a multi-asset consultant/investment advisor configuration
for the next three years.
The Boards have decided to appoint Total Risk
Management (TRM) as their consultant and advisor for strategic asset allocation/investment
policy, and to provide risk monitoring, investment research and performance
reporting at a total fund level.
John A Nolan & Associates will be appointed
by the Boards to provide investment manager selection and monitoring with respect
to Australian and international equities, fixed interest and Australian property.
Wilshire Australia will advise the Boards on new
Australian private equity investments and will monitor the Boards' existing
Australian private equity commitments. The
Boards will also engage organisations with specialist expertise on a case-by-case
basis.
The Chairperson of the PSS and CSS Boards, Mr
Peter Reynolds, said that the decisions had been made after a rigorous process.
"Twenty five proposals were received and detailed discussions were held
with eleven organisations", he said.
"The Boards were particularly impressed by the
capabilities of so many organisations and whilst the decisions were difficult,
we are confident that the structure and organisations chosen would meet the
Boards' objectives over the forthcoming period", Mr Reynolds added.
"The PSS
and CSS Boards, like all superannuation funds, face a challenging time.
Having made this decision we now look forward to the major review of
our investment policy and strategy which will take place in the first half of
2002", Mr Reynolds said.
The new arrangements will be implemented progressively
during the first quarter of 2002.
5 December 2001
