NZ Super Fund CEO appointed IFSWF chair
NZ Super Fund Chief Executive Adrian Orr has been appointed Chair of the International Forum of Sovereign Wealth Funds.
NZ Super Fund Chief Executive Adrian Orr has been appointed Chair of the International Forum of Sovereign Wealth Funds (IFSWF). The appointment, which is unpaid, is for a three-year term. Mr Orr, who was previously IFSWF Deputy Chair, will undertake his new responsibilities alongside his role as Chief Executive of the Fund.
IFSWF aims to promote best practice governance and transparency in the management of sovereign wealth funds, and to provide a forum for members to exchange views on issues of common interest. Its 28 members manage state funds in excess of US$4 trillion.
Speaking at the IFSWF Annual Meeting in Milan, Mr Orr outlined his commitment to promoting the Santiago Principles, a set of 24 principles of practical guidance for sovereign wealth funds promoting good governance, accountability and transparency.
“We are all managers of others peoples’ money – a fiendishly difficult task,” said Mr Orr, “Whatever the purpose, we are each charged with succeeding over the long-term. Sovereign wealth funds must continue to embrace the principles of good governance, accountability and transparency to earn respect for their operating and investment integrity. I believe the IFSWF can greatly assist the provision of superior risk-adjusted returns to our owners, and in doing so provide increased stability to global financial markets.”
Auckland, the home of the NZ Super Fund, is to host the next IFSWF Annual Meeting in November 2016. More than 200 delegates from sovereign wealth funds, regulators and global financial institutions are expected to attend the three day conference.
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NZ Super Fund CEO appointed IFSWF chair
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