Overview

This Statement of Investment Policies, Standards and Procedures (SIPSP) records the framework set by the Board for the governance and management of the investment assets held by the Fund. The Board’s governance framework is designed to establish good decision-making processes, clearly define fiduciary roles and responsibilities, and to provide effective policies and procedures for management of the investment assets of the Fund.

The SIPSP contains policies and objectives relating to the investment of the assets held on by the Fund. Its contents are set out under the following headings:

Contents

• Introduction
• The fund management structure and governance
• Statement of investment philosophy
• Asset classes and selection criteria
• The balance of risk and return
• Benchmarks
• Standards for reporting
• Responsible investment
• Risk management
• The use of derivatives
• Investment constraints
• Valuation