How are my funds invested?
The Superannuation Trustee Board (STB) is responsible for setting investment strategies and objectives of the NTGPASS Fund. In developing the investment options, the Trustees of the Board took account of the need for members to have diversification across the various investment sectors as well as the NTGPASS benefit structure, membership profile, implementation costs and the resources available to manage the Fund's investment portfolio.
Your funds are invested according to the investment option you selected.
What is the role of the Superannuation Trustee Board?
The Superannuation Trustee Board (STB) is established by section 8A of the Superannuation Act. The functions of the STB are to act as Trustees of the Fund and to direct the Commissioner of Superannuation in managing the investments and the Fund on its behalf. Additionally, the Board may direct the Commissioner to:
- engage investment managers, actuaries, financial and legal advisers and other experts, in relation to the management of the investments of the Fund; and
- invest the monies of the Fund in investments that the Board considers appropriate.
Who are the members of the Board?
Legislative amendments have been made to expand the membership of the STB. Commencing on 27 April 2012, the legislation provides for a nine member board representing 3 schemes:
- Northern Territory Government and Public Authorities Superannuation Scheme (NTGPASS);
- Northern Territory Police Supplementary Benefit Scheme (NTPSBS); and
- Legislative Assembly Members Superannuation Trust (LAMS).
The members of the Superannuation Trustee Board are as follows:
|Kathleen Robinson||Marianne McAdie|
|Michael Martin||Under Treasurer|
|Alex Pollon||Vicky Coleman|
|Colin Goodsell||Sarah Burchett|
Who manages my superannuation investments?
Following a select tender process, MLC Implemented Consulting (MLC) were appointed by the Board in August 2005 to manage the fund's investment portfolio. MLC merged with JANA Investment Advisers (JANA) in 2012.
In its role as consultant to the Board, JANA advises the Board on investment objectives and strategies, and selects and monitors investment managers who manage the funds. JANA appoints investment managers with complementary styles across different asset classes such as international and Australian shares, property and fixed interest securities. This style of management creates a well-diversified portfolio that helps minimise risk to produce positive long-term returns.
JANA also re-balances the portfolio to bring the actual asset mix in line with the target allocation. JANA is required to keep the actual asset allocation of each investment option in the Fund within plus or minus 5 per cent of the Board’s target allocation. The asset allocation ranges are continually monitored by the Board to ensure they are within the Board’s targets.
JANA Performance Review
In line with good governance practices, the STB engaged Cumpston Sarjeant to conduct a triennial review on JANA in respect of its role as investment manager for NTGPASS, including:
- A review of the investment performance of each asset class against a range of benchmarks including index results and industry competitors;
- A review of investment performance of each investment option against the stated investment goals.
The report dated February 2015 concluded that:
- JANA asset sector returns generally track relevant indices quite closely;
- JANA's investment performance for growth and defensive investment options neither consistently outperforms or consistently underperforms either its peers or the relevant indices; and
- JANA consistently has high quality communication of its strategies.
The next review is due to be conducted in 2018.
- JANA Market Commentary: March Quarter 2017
- JANA Market Commentary December Quarter 2016
- JANA Market Commentary September Quarter 2016
- JANA Market Commentary June Quarter 2016
- JANA Market Commentary March 2016
- JANA Market Commentary December Quarter 2015
- JANA Market Commentary September Quarter 2015
- JANA Market Commentary June Quarter 2015
- JANA Market Commentary March Quarter 2015
- JANA Market Commentary - December Quarter 2014
- JANA Market Commentary September Quarter 2014
- JANA Market Commentary June Quarter 2014
- JANA Market Commentary March Quarter 2014
Last updated: 02 November 2017