STATEMENT OF INVESTMENT POLICIES
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INTRODUCTION
The following document describes the investment objectives, risk preferences,
strategy, performance measurement, governance and other miscellaneous issues
for the management of the pension funds for which the NBIMC has been appointed
Trustee. These are the New Brunswick Public Service Superannuation Fund (PSSF),
the New Brunswick Teachers’ Pension Fund (TPF), and the Pension Fund for New
Brunswick Provincial Court Judges (JPF).
This document is an abridged amalgamation of three individual Statements of
Investment Policies. While most provisions of this Statement of Investment
Policies apply equally to all three funds, each strategy is fund-specific and
reflects demographic characteristics, cash flow projections, and funding status
of the individual plans. This document incorporates changes made during the
FY2007-2008 which have been approved by NBIMC’s Board of Directors.
The Statement of Investment Policies must be reviewed within a year of the
receipt of any actuarial valuation or when dramatic events occur in capital
markets. It can also be reviewed more frequently either at the request of
the Board of Directors or upon recommendations from NBIMC staff.
While not part of the Statement of Investment Policies, NBIMC’s investment
operations are also governed by an Investment Procedures Manual, which identifies
the role and responsibilities of NBIMC’s investment staff, and by a Code of
Ethics and Business Conduct that sets out guidelines for NBIMC’s employees
and Board members.
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