Trustees of the Fund

The management of the Fund is the responsibility of a Board of Trustees. Both Member and Employer Groups elect and appoint the Board of Trustees as provided by the Rules.

The names of the Trustees are reflected in the Annual Trustee Report.

It is the Trustees’ responsibility to ensure that the Fund is administered properly and that the Fund’s assets are invested in accordance with the Fund’s Investment Philosophy and Mandate. The Fund is strictly regulated in terms of the Pension Fund Act, and has external auditors, consultants, administrators and an actuary.

Some of the responsibilities of the Trustees are as follows:

• Ensuring that contributions are received timeously from the employers
• Ensuring that benefits to the members and beneficiaries are paid timeously
• Ensuring that proper systems are in place to administer the fund effectively and efficiently
• Implementing the investment philosophy and choosing suitable investment managers to invest the fund’s assets
• Communicating and updating members on important matters regarding the Fund.

Service Providers

The Fund’s current service providers are as follows:

Actuaries, Consultants & Investment Advisors: Ensimini Financial Services (Pty) Ltd

Administrator: National Bargaining Council for the Clothing Manufacturing Industry

Auditor: Nolands Incorporated

Investment Administrators: Old Mutual Multi-Managers