Dawie de Villiers, CEO of Sanlam Employee Benefits.
The Sanlam Umbrella Fund walked off with the top prize in two categories at the Best Practices Industry Awards of the Institute of Retirement Funds Africa (IRFA) this week. In addition, the fund was awarded a gold standard for operating at a level other funds aspire to.
The Sanlam Umbrella Fund was named the winner of the categories “Legal and Technical Compliance” and “Financial Reporting”. In the first category, the judges found the fund had adopted a governance assurance approach based on a very comprehensive set of reports, checklists and opinions, offering maximum assurance to stakeholders. In the second category, the fund scored very high on the King III governance assessment instrument and made efficient and detailed disclosure in its financial reporting.
In the category “Stakeholder Communication – Best Communications Strategy”, the Sanlam Umbrella Fund was judged to have met the gold standard, which recognises funds which are not only compliant with the law but also apply best industry practices. The fund also received a special mention for its “Umbrella Chat” as a medium in the communication project division.
The IRFA’s Best Practices Industry Awards are open to all funds, irrespective of size, and aim to encourage excellence in communication between funds and their members. They have become a sought-after accolade in the industry.
According to Dawie de Villiers, CEO of Sanlam Employee Benefits, the IRFA awards are a “recognition that the Sanlam Umbrella Fund is a leader in the industry. This outstanding performance shows that the fund is committed to providing members and stakeholders with the knowledge that will empower them to make informed choices. It is also testament to the fund’s initiative and creativity in developing best practices that other funds seek to emulate,” he said.
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