New Zealand Superannuation and Retirement Income Act 2001

61 Contents of statements of investment policies, standards, and procedures

A statement of investment policies, standards, and procedures must cover (but is not limited to)—


the classes of investments in which the Fund is to be invested and the selection criteria for investments within those classes; and


the determination of benchmarks or standards against which the performance of the Fund as a whole, and classes of investments and individual investments, will be assessed; and


standards for reporting the investment performance of the Fund; and


ethical investment, including policies, standards, or procedures for avoiding prejudice to New Zealand’s reputation as a responsible member of the world community; and


the balance between risk and return in the overall Fund portfolio; and


the fund management structure; and


the governance framework for the implementation and operation of Fund investment vehicles referred to in section 59A; and


the use of options, futures, and other derivative financial instruments; and


the management of credit, liquidity, operational, currency, market, and other financial risks; and


the retention, exercise, or delegation of voting rights acquired through investments; and


the method of, and basis for, valuation of investments that are not regularly traded at a public exchange; and


prohibited or restricted investments or any investment constraints or limits.

Section 61(fa): inserted, on 23 October 2015, by section 8 of the New Zealand Superannuation and Retirement Income Amendment Act 2015 (2015 No 93).