fi360’s practical framework ensures investment strategy is being properly developed, implemented, and monitored to meet both legal and ethical obligations.

Whether one is trustee of a family trust, on the board of a charity or a director of a superannuation entity, the legislation in NZ and Australia is making it increasingly clear that there must be an investment governance framework in place.   Minimum components should include;

• clarity of everyone's roles, services and responsibilities, including providers
  
• an investment policy statement (IPS), setting out all governance processes and policies
  
• a clear strategy to meet objectives and appropriately diversify assets
• the due diligence procedures used and records of findings
  
• an investment performance reporting approach that facilitates meaningful decisions
• a review process to ensure that the investment governance framework remains effective

The benefits of defined Fiduciary Practices when applied by both trustees and their advisers should include;

• providing evidence that a prudent investment process is in place
• avoiding omissions through practical checklists
  
• establishing an educational basis that builds confidence and trust
• delivering improvements in investment performance
• validating and controlling the many costs involved in investment

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