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 Corporation 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 Statement of
Investment Policies. While most provisions of this Statement of Investment
Policies apply equally to all three funds, the 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 and has been approved by the Corporation’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 a 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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