Eight out of 10

Investment consultant RisCura has won the tender to provide investment consulting services to the Telkom retirement fund.

The fund has R12bn under management, making it one of the 10 largest funds in South Africa.

Willem Myburgh, principal officer of the Telkom Retirement Fund, saidthat RisCura was selected based on its in-depth understanding of the retirement fund industry, independent corporate structure and specialist risk management skills.

RisCura now provides servicesto over R450bn of retirement fund assets in South Africa.

Their client base includes 8 of the 10 largest retirement funds including the Transnet Pension Fund Administrators, the Sentinel Mining Industry Retirement Fund and Mine Employees Pension Funds, the Eskom Pension and Provident Funds as well as the Tshwane Municipal Pension and Provident Funds.

Recent events in the retirement fund industry have highlighted the need for funds to employ the right investment consultants to assist with the development of appropriate investment strategies and risk management processes.

Trustees have become increasingly liable to members to ensure that prudent processes are followed in the management of their retirement fund's assets.

Jarred Glansbeek, MDof RisCura said: "Trustees need to realize that they are ultimately accountable and responsible for what happens to their fund, and they should ensure that their investment consultant imparts the required skills and knowledge to them."