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Corporate governance

At Statewide Super, we’re committed to the highest levels of corporate governance. Our experienced Board of Directors set the strategic direction for the Fund, maintaining a high standard of ethical behaviour, transparency and accountability.

Our key focus is you

Our knowledgeable Board of Directors carefully assess all investments, with a primary focus on growing your superannuation to meet your future retirement needs. The Board also regularly reviews the business and operational investment performance of the Fund to achieve great outcomes for our members.

Monitoring risk

In keeping with the Statewide Super Risk Management Strategy, a major part of the Board’s work includes monitoring economic, business and operational risk. This strategy document details our approach to managing risk, and is available to members upon request. Request a  printed copy. Request a free printed copy.

Board summary policies and disclosures

You can find out more about our Board-endorsed policies and disclosures, an overview of key policy areas in relation to the Fund and a list of our material outsourcing providers below.

Transparency Information
Transparency Information comprises executive remuneration disclosure and other fund governance information that is legally required to be publicly available on each super fund’s website.

 
MySuper Product Dashboard View
The latest Statewide Trust Deed Download
The latest Statewide Constitution Download
Statewide Board Charter includes rules relating to the nomination, appointment and removal of directors Download
The most recent actuarial review for each defined benefit sub-fund:
- Salarylink Sub-Fund
- CCASP Sub-Fund
Download
Download
 Statewide's latest Product Disclosure Statements (PDS) and Financial Services Guide View
 Statewide's Annual Report View
Summary of Significant Event Notices in the last 2 years View
Information about each Statewide Super executive officer View
Directors attendances at Board meetings for the last 7 years Download
A register of relevant interests and duties Download
Statewide's proxy voting policies View
Summary of exercised proxy voting rights View
Annual Financial Statements for the RSE Licensee View
Executive Officers and Individual Trustee Remuneration (This information will be updated by 31 October each year):
- 2016 - 2017 information 
- 2015 - 2016 information
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Download

Summary of key policies

  • Gifts and Benefits Policy

    Statewide Super presumes that the acceptance of gifts, benefits or favours (collectively referred to as ‘gifts’) is not appropriate where these may influence or be seen to influence decision making. This is so regardless of who the prospective gift-giver is. It does not matter where these offers come from, but simply whether or not acceptance of the gift may influence or be seen to influence any decision making.

    This does not mean that acceptance of gifts is always inappropriate. Gifts are generally acceptable if they are less than $300 in value and are not seen as conflicted.

    Gifts valued in excess of $300 must be declared and may be accepted and retained by the employee with the express approval of the Chief Executive Officer (CEO).

    Employees may accept gifts under the value of $300, subject to the requirements of the Gifts and Benefits Policy. Under no circumstances should an employee accept any form of monetary gift.

    All gifts received by an employee (this includes indirect gifts provided to partners/family members) from an external third party, with an estimated value of $300 or over, must be registered on the Gift Register by the General Counsel & Company Secretary within five (5) business days of receipt of the gift.

  • Conflicts of Interest Policy

    Statewide Super is committed to promoting a culture of prudent practice, sound management and ethical behaviour.

    Statewide Super is fully cognisant of its duty to ensure that Statewide Super members are protected when an actual, apparent or potential conflict of interest arises between the duties of its directors or employees and any other commercial interest.

    Accordingly, Statewide Super ensures that each business decision reflects independent judgment and discretion, uninfluenced by any consideration other than those believed to be in the best interests of its members.

    Statewide Super’s preferred method of managing conflicts of interest is to avoid them entirely. Where avoiding a conflict of interest is not possible, the conflict is managed by a combination of internal controls and disclosure to ensure that any recommendation or decision within Statewide Super, or the process leading to such a recommendation or decision, is not compromised as a result of that conflict – and, ultimately, that the interests of our members are given priority.

    These principles are expressed in Statewide Super’s Code of Conduct which requires our Directors and employees to:

    • not enter into any arrangement or activity (whether pecuniary or non-pecuniary) that would directly or indirectly conflict with the interests of Statewide Super or prejudice the performance of professional duties;
    • never provide or maintain products or services for, or complete or approve transactions on behalf of, immediate family members or relatives in the course of their work;
    • be alert to actual or potential conflicts of interest and disclose them to their line manager or the General Counsel & Company Secretary (or in the case of Directors - to the Board); and
    • seek approval for any outside business interest (paid or unpaid), business ventures, directorship, partnership, or direct/indirect financial interest which has the potential to be in conflict with the interests of its members.

    In addition, there are the following mechanisms in place:

    • Statewide Super maintains a Register of Relevant Interests which identifies each conflict and describes the specific actions that will be taken to manage a Conflict of Interest (e.g. exclusion from particular decision-making or assessment processes).
    • Statewide Super maintains a register of the shares held by Directors and members of the Executive Team for Shareholdings which includes any shareholdings in direct investments and shareholdings of 5% or more in listed companies or unlisted public companies.
    • All Directors are required at the commencement of each Board and/or Board Committee meeting to confirm that any previously disclosed relevant interest is recorded in the Register of Relevant Interests, is accurate and contains all relevant details (including details of any Conflict of Interest and the action taken to avoid or manage the Conflict of Interest). The confirmation is recorded in the minutes of each Board and/or Board Committee meeting and referred to the Chief Executive Officer.
    • In addition, Directors are also required to make a formal annual declaration of any actual or potential Conflicts of Interest.

    A Director or member of the executive team who is the subject of a potential Conflict of Interest is permitted to attend a meeting of the Board in order to provide information with respect to the conflict - but must otherwise excuse himself or herself from the portion of the meeting during which any determination regarding the conflict is considered or made.

  • Remuneration Policy

    The Remuneration Policy sets out the remuneration objectives and the structure of remuneration arrangements of all Statewide Super employees, Directors and Committee members.

    Each Director is entitled to such remuneration for his or her services. Director remuneration is set by the Board after consultation with an appropriately qualified and skilled independent expert. The Chair of the Board is paid a fee which is twice the annual fee paid to other Directors. Additional fees are also paid to the Chair of the Audit, Governance and Risk Management and the Investment Committees due to the advanced expertise required in these areas. Directors do not receive any remuneration in the form of performance based payments. Nor do they receive any equity or non-cash remuneration. The Directors do not accrue service entitlements.

    Directors will also be entitled to be reimbursed or have paid all reasonable expenses incurred in connection with the business and activities of the Statewide Super Group reimbursed as approved by the Chair and Chief Executive Officer from time to time.

  • List of Material Outsourcing Providers
    # Service Provider ABN Activity
    1 Brandywine Global Investment Management, LLC NA Investment Managers
    2 Cooper Investors Pty Limited 26 100 409 890 Investment Managers
    3 PricewaterhouseCoopers 52 780 433 757 Internal Audit
    4 Yarra Funds Management Limited 63 005 885 567 Investment Managers
    5 Mesirow Financial Currency Management, Inc NA Investment Managers
    6 MetLife Insurance Limited 75 004 274 882 Insurance - Administrative Service Agreement
    7 National Australia Bank Limited 12 004 044 937 Custody of Assets
    8 Henderson Global Investors (Australia) Institutional Funds Management Ltd 16 165 119 531 Investment Managers
    9 PIMCO Australia Pty Ltd 54 084 280 508 Investment Managers
    10 Selector Funds Management Limited 85 102 756 347 Investment Managers
    11 State Street Bank and Trust Company 70 062 819 630 Investment Managers
    12 Ubique Asset Management Pty Ltd 36 150 100 557 Investment Managers
    13 Vinva Investment Management Limited 38 142 528 783 Investment Managers
    14 Salesforce.com Singapore Pte Ltd NA IT Provider
    15 Westpac Banking Corporation -QuickSuper 33 007 457 141 IT Provider
    16 Barings LLC NA Investment Managers
    17 Financial Synergy Holdings Pty Ltd 66 126 127 197 Activity Administration System
    18 Your DC Pty Ltd 84 603 707 339 Activity Data Centre
    19 Greencape Capital Pty Ltd 98 120 328 529 Investment Managers