Status and Details
Amendments to Investment Policy as approved by the Investment Committee on 16 September 2016 (IC16/13)and University Council on 27 October 2016 (CNL16/87). Amendments include: Clause 7 - increase "three" to "four" layers or types of funds and include "mid term cash needs"; Clause 7b - insert "over a one to two year horizon" at end of first sentence; insert Clause 7c - "Medium Term Investment Portfolio - to support possible medium term cash flow needs of two to four years; Clause 7d - insert "this is to support the enduring nature of the University, including long term strategic capital requirements" at the end of the first sentence. Increase "one year" to "four years" and delete "including equities. Investment returns from the long term portfolio are intended to support the capital development plan" at the end of the second sentence;Clause 10b(ii) - delete "The appointment of a Fund Manager must be formally approved by NSW Treasury in accordance with Part 4 of Schedule 4 of the Public Authorities (Financial Arrangements) Act 1987." No longer required as a result of the change to the Charles Sturt University Act 1989 No 76 (Schedule 2 para 2a);Clause 11 - replace "funds not vested in a Fund Manager" and replace with "cash holding and short term funds"; Clause 16 (Short Term Investment Portfolio table)- Current and At Call Accounts - increase Strategic Benchmark from 15% to 18%. Bank Bills - decrease Strategic Benchmark from 2.5% to 2%. Delete Government Notes and Bonds; Clause 17 - delete "With the exception of Government Notes and Bonds"; Clause 20 - insert Strategic Asset Allocation Benchmarks and Ranges table for Medium Term Investment Funds; Clause 21 - (Long Term Investment Portfolio table)- Australian Listed Shares - decrease Strategic Benchmark from 35% to 30% and Ranges from 20-50% to 15-50%. International Listed Shares - increase Strategic Benchmark from 5% to 13% and Ranges from 0-10% to 5-25%. Australian Bonds and Fixed Income Securities - decrease Strategic Benchmark from 55% to 26% and Ranges from 30-75% to 15-50%. Include Australian Property, Alternative Listed Securities, International Bonds and Fixed Income Securities and Cash; Clause 24 - decrease 80% to 70%; insert clause 35 - "The overall investment return objective for the medium term investment portfolio is to match or outperform the average return of 90 day BBSW + 2% over rolling three year periods after deduction of investment fees paid for investment management"; Clause 36 - increase "CPI plus 4% pa over rolling seven year periods" to "CPI plus 5% pa over rolling twelve year periods"; renumber Clauses 20-43.Investment Policy
Status
Historic
Indicates if this version of the document is in effect (Current), yet to come into effect (Future), or expired (Historic).
Effective Date
22nd December 2016
This is the date on which this version of the document came into effect.
Review Date
22nd August 2017
The next review of this document is scheduled to commence on this date.
Approval Authority
Investment Committee
The noted authority approved this is version of the document.
Approval Date
22nd December 2016
This is the date on which this version of the document was approved by the authorised authority.
Expiry Date
30th October 2017
This is the date on which this version expires. It may still apply, conditionally, after this date.
Unit Head
Paul Dowler
Chief Financial Officer
This is the officer generally responsible for day to day administrative matters.
Author
Paul Dowler
This is the author of record for this version of the document.
Enquiries Contact
Division of Finance
General enquiries should be directed to the officer/area listed.
Summary of Changes from Previous Version
Clauses Amended
Policy: 7, 10, 11, 16, 17, 20-43