PRESS RELEASE: Accident Compensation Corporation adopts Ortec Finance' PEARL platform to improve oversight of investment performance
Wellington, Rotterdam, Melbourne, June 2020
New Zealand’s Accident Compensation Corporation (ACC) has chosen Ortec Finance’s PEARL platform to enhance its ability to measure the performance of its investment portfolio. ACC has about $44bn of investments, making it one of New Zealand’s biggest funds. Returns from the portfolio help ease the burden on levy payers to meet the future costs of the accident insurance scheme. ACC’s investment teams have exceeded their performance benchmarks in 22 of the past 24 years and volatility in financial markets this year underlines the importance of ensuring they have the tools to best manage the portfolio.
PEARL will evaluate the impact of all of ACC’s investment decisions - be they positive or negative, complex or simple - against its investment objectives and benchmarks, bringing more clarity to the investment process. PEARL is extensively used around the world including by comparable fund managers in Australia and New Zealand. ACC has delivered New Zealand’s accident insurance scheme since its inception in 1974.
Elske van de Burgt, Managing Director Investment Performance, commented: “We are delighted ACC has concluded to partner with us. Our Performance Attribution Solution allows taking a holistic view of all investments. Enhanced insight in the added value of investment decision-making, will enable ACC to monitor and improve their investment management process. It will enable them to have timely and relevant information about their investment gains and losses, both in absolute terms as well as relative to market and benchmark.”
Jonathan Williams, Investments Risk Manager at ACC: “We undertook a comprehensive RFP process to select the right solution for our investment process which resulted in us selecting Ortec Finance’ PEARL. The ease of use, quality of analytics and capabilities of PEARL made Ortec Finance the obvious partner for ACC. PEARL will improve the quality and transparency of our performance reporting, adding greater ability to analyse the performance and risk of our investment decisions. We are really looking to working with Ortec Finance and building our partnership into the future.”
About ACC
The Accident Compensation Corporation (ACC) is a Crown Entity set up to deliver New Zealand’s accident insurance scheme (the Scheme). The purpose of the Scheme is to deliver injury prevention initiatives and no-fault personal injury cover for everyone in New Zealand, including overseas visitors. Under the Scheme, individuals forgo the right to sue for compensatory damages following injury in exchange for comprehensive accident insurance cover and compensation.
Media Contacts:
For more information, please contact:
- For ACC’s media team, contact +64 (0) 21998165 or media@acc.co.nz
- For Ortec Finance, contact Stefano Lee, Managing Director – Australia & New Zealand
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