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Governance

As your superannuation is probably your largest single investment after your home, it is essential that it is managed by highly-qualified and experienced people who act in your best interests.

The APSS Management team is focused solely on providing retirement benefits for you, our members. A big part of that is our commitment to excellence in corporate governance and so we adhere to strict industry standards, regulatory requirements and internal controls across all areas of the Scheme.

The APSS operates under a range of corporate governance policies and practices that have been put in place to:

  • Ensure that the funds in the APSS are managed appropriately
  • Deliver long-term security to members
  • Set a clearly defined, transparent framework for the division of responsibilities in the oversight and running of the APSS
  • Ensure the accountability and suitability of all parties involved in the supervision and administration of the APSS.

Our Trustee Board

Our Trustee Board of Directors has overall responsibility for governing the APSS. Read the profiles below to learn more about the directors who are working for you:

Our Executive Officers

APSS is committed to providing excellent service to all members. To make this happen, our in-house senior leadership team is responsible for the everyday operations of the APSS to ensure that our service standards are met or exceeded. Our remuneration practices have been designed to reward our people fairly and responsibly. Our senior leadership team along with our staff are paid in a way that takes into account the specific responsibilities and duties of their roles and is reviewed accordingly. The following links provide profiles of the people on the APSS senior leadership team, and details of their total remuneration:

Our service providers

We also complement our in-house expertise with the appointment of external service providers whose specialist skills assist us with the Scheme's key operations such as managing your investments.

Our proxy voting rights

The APSS is concerned about promoting effective corporate governance practices in the companies in which it invests to avoid the risk inherent in corporate governance failure. The Trustee therefore recognises its responsibility to ensure that the voting rights associated with the Scheme's public market equity investments are exercised in a prudent fashion and in a manner that is consistent with the best interests of members.

The Trustee delegates responsibility for management of the Scheme's public market equity investments (including responsibility for proxy voting) to specialist third party investment management firms. These specialist firms are required to manage the Scheme's equity investments in accordance with agreed guidelines and principles including the general principle of maximising portfolio value and returns, subject to acceptable levels of risk. For full details of the voting policy click here.

Here is a summary of actual voting details for 2015/16, along with vote summary reports for:

- AQR Developed Markets for the quarters ending 31 December 2015; 31 March 2016 and 30 June 2016.

- AQR Emerging Markets for the quarters ending 31 December 2015; 31 March 2016 and 30 June 2016.

- SSGA for the quarters ending 31 December 2015; 31 March 2016 and 30 June 2016.

There are no proxy voting reports for the 30 Sep 2015 quarter because APSS commenced IMA public equity investment in November 2015.

Conflict management, risk management, compliance and complaints handling

One of our obligations is to ensure we manage any real or perceived conflicts when it comes to directors or executives undertaking their roles. Click here for a summary and copy of our conflict management policy.

In addition, the Board takes risk management, compliance and complaints handling seriously and has established a framework which enables the APSS to operate prudently and protect your interests.

Significant event notices

Where your interests and investments in the APSS may be impacted by the occurrence of a significant event or the decision to introduce a material change, significant event notices will be issued to all affected members in a timely and transparent manner. For a summary of the significant event notices issued by the APSS over the past two years click here.

Other important information available on the website