Transparency and reporting
We strive to be as transparent as commercially possible about our management of the NZ Super Fund and how the Fund is performing.
Transparency is a central compliance requirement for the Guardians in our management of the fund and is critical to maintaining organisational credibility and stakeholder confidence.
Our reporting requirements are set out in the Crown Entities Act and New Zealand Superannuation and Retirement Income Act. This includes compliance with the Financial Reporting Act. We are also subject to the Official Information Act.
Independent ratings of the Guardians' transparency
We aspire to achieve top-quartile or higher ratings in relevant rating mechanisms.
Linaburg-Maduell Transparency Index
We aim to achieve the top rating of 10 out of 10 (100%) in the quarterly rating of Sovereign Wealth Fund Institute's (SWFI) Linaburg-Maduell Transparency Index and have done so since its inception in 2008.
To achieve full marks at 10 out of 10 a sovereign wealth fund must:
- provide history including reason for creation, origins of wealth and government ownership structure
- provide up-to-date independently audited annual reports
- provide ownership percentage of company holdings, and geographic locations of holdings
- provide total portfolio market value, returns and management compensation
- provide guidelines in reference to ethical standards, investment policies and enforcer of guidelines
- provide clear strategies and objectives
- if applicable, clearly identify subsidiaries and contact information
- if applicable, identify external managers
- manage its own web site
- provide main office location addresses and contact information such as telephone and fax.
Human Rights Commission Annual Report Review
Between 2007 and 2018 the Human Rights Commission reviewed and analysed the good employer reporting obligations by Crown entities in their Annual Reports. In 2018 the Guardians was ranked first out of 93 Crown entities, and achieved 100% overall compliance.
Transparency and Governance Index
In 2012 the Fund placed 4th equal for transparency and 1st equal for combined transparency and governance, out of more than 80 funds, in a study by the Centre for Financial Stability (Argentina). The study was published in the Review of European Studies, Vol. 4, No. 2, June 2012.
Petersen Institute Sovereign Wealth Fund transparency scorecard
The Guardians has been at or near the top of a series of transparency surveys conducted by Edwin Truman for the Washington, DC-based Petersen Institute for International Economics (PIIE).
The Guardians and Fund have received a series of awards and recognition for excellence in reporting and disclosure.