Related Parties (continued) Trustee The Trustee of the fund is the Superannuation Trustee (STB). Membership of the STB was expanded during the year to nine members. The LAMS representative (J Prince) commenced 27 April 2012 and the PSBS representatives (M McAdie and G Carter) commenced on 25 May 2012. Members at 30 June 2012: Kathleen Robinson Chairperson Marianne McAdie Deputy Chairperson Michael Martin Member Michelle Kempster Member Alex Pollon Member Vicky Coleman Member Jennifer Prince Member Mark McAdie Member Gowan Carter Member One member was paid STB sitting fees for services during the 2011-12 financial year ($1495). Where a board member is also a member of the fund, member contributions are made on an arm’s length basis. Financial Instruments Investments of the fund than cash held for liquidity purposes) comprise units in collective investment products, such units in pooled superannuation trusts and unlisted managed investment schemes. The Trustee has determined that this type of investment is appropriate for the fund and is in accordance with the fund’s investment strategy. The Trustee has overall responsibility for the establishment and oversight of the fund’s risk management framework. The Trustee established risk management policies to identify and analyse the risks faced by the fund and set appropriate risk limits and controls, monitor risks and adherence to risk limits. Monitoring of risks includes those managed by the investment manager, MLC Implemented Consulting (MLC) appointed in 2005. The Trustee regularly reviews the risk management policies to ensure changes in market conditions and the fund’s activities are reflected. The fund’s investments are exposed to a variety of investment risks, such as market risk and liquidity risk. This note presents information about the fund’s exposure to these risks, the fund’s objectives, policies and processes for measuring and managing risk.
Related Parties (continued) Trustee The Trustee of the fund is the Superannuation Trustee (STB). Membership of the STB was expanded during the year to nine members. The LAMS representative (J Prince) commenced 27 April 2012 and the PSBS representatives (M McAdie and G Carter) commenced on 25 May 2012. Members at 30 June 2012: Kathleen Robinson Chairperson Marianne McAdie Deputy Chairperson Michael Martin Member Michelle Kempster Member Alex Pollon Member Vicky Coleman Member Jennifer Prince Member Mark McAdie Member Gowan Carter Member One member was paid STB sitting fees for services during the 2011-12 financial year ($1495). Where a board member is also a member of the fund, member contributions are made on an arm’s length basis. Financial Instruments Investments of the fund than cash held for liquidity purposes) comprise units in collective investment products, such units in pooled superannuation trusts and unlisted managed investment schemes. The Trustee has determined that this type of investment is appropriate for the fund and is in accordance with the fund’s investment strategy. The Trustee has overall responsibility for the establishment and oversight of the fund’s risk management framework. The Trustee established risk management policies to identify and analyse the risks faced by the fund and set appropriate risk limits and controls, monitor risks and adherence to risk limits. Monitoring of risks includes those managed by the investment manager, MLC Implemented Consulting (MLC) appointed in 2005. The Trustee regularly reviews the risk management policies to ensure changes in market conditions and the fund’s activities are reflected. The fund’s investments are exposed to a variety of investment risks, such as market risk and liquidity risk. This note presents information about the fund’s exposure to these risks, the fund’s objectives, policies and processes for measuring and managing risk.