As TECT’s invested funds have grown to the $1billion mark, the TECT Board has acted to enhance the governance structure over the portfolio by creating a formal Investment Committee and appointing an institutional investment adviser.
As part of the Trust’s portfolio governance initiatives, Dr Ed Schuck, Principal of Fidato Advisory, has been appointed as Chair of the TECT Investment Committee. Dr Schuck has previously worked in an advisory capacity with TECT over recent years and the Board would like to thank him for that work and look forward to his contribution heading the Trust’s Investment Committee.
Leading Australian asset consultant, Frontier, has been appointed to the role of investment consultant to TECT after an extensive and competitive selection process. Frontier is one of Australia’s largest institutional investment advisers with a twenty-seven year history and provides advice on more than NZ$500 billion.
TECT General Manager, Wayne Werder, said Frontier was selected based on both cultural alignment and a preparedness to tailor an approach to help the Trust navigate its current growth aspirations.
“TECT is evolving and planning for the next growth phase for the portfolio. As part of that, the trustees are keen to broaden our investment opportunities. Frontier’s endowment and foundation experience, but also their preparedness to work with us to operate in a way that will both support our community and manage the portfolio’s funds responsibly, really stood out.”
Frontier Chief Executive Officer, Andrew Polson, is particularly pleased to welcome TECT to the firm’s growing client base.
“We’re excited to grow our client base in New Zealand. We’ve had a great deal of feedback in recent years that our unconflicted and independent advice offering would resonate with New Zealand investors. We’re delighted to be chosen to help TECT manage its portfolio as it transitions forward,” said Polson.