Corporate governance refers to the system of controls, policies
We’ve adopted principles for corporate governance that outline the framework under which the board and management carry out their duties and obligations. These principles are outlined in the Corporate governance policy statement.
Our Trustee is AUSCOAL Superannuation Pty Ltd (ABN 70 003 566 989) and is responsible for
The Trustee’s job is to make sure Mine Super:
The Trustee is licensed by the Australian Prudential Regulation Authority, the government body that supervises the superannuation industry, to be a Trustee of a public offer superannuation fund.
The Australian Securities and Investments Commission has given the Trustee an Australian Financial Services Licence, number 246864, to provide general financial product advice on superannuation.
View our Licence, registration and ABN details.
The Trustee is equally represented by both coal industry employees and employers, working together in the best interests of members and their families.
View our Trustee Directors details.
The Mine Group has a Conflicts of Interest Management Framework and Policy to assist the Board and staff to manage conflicts of interest which arise from time to time. The Group’s Framework also includes requirements in relation to gifts, hospitality and entertainment both received and offered.
Under the Framework and Policy, Directors and staff have an ongoing duty of disclosure in relation to actual, potential and perceived conflict of interests which are identified in the normal course of business and which apply to their interests and duties. The Framework and Policy set out requirements on how conflicts can be mitigated including in relation to related-party conflicts.
The following policies assist the Group in managing conflicts of interest:
The Trustee keeps registers which record the interests and duties of Directors and Executives which may have an impact on their role as a Responsible Person.
The Group’s Code of Conduct which applies to Directors and staff sets out the standards expected when they are undertaking their duties. The Code forms part of the Group’s Conflicts of Interest Management Framework. A summary of the Code can be accessed from the link below:
Mine Super's remuneration policy for management and Directors has been established to:
The remuneration disclosure outlines Mine Super's guiding principles for remuneration and the remuneration paid to Board members and management staff.
View our Executive Management details.
The Trust Deed is the Fund's rule book. It’s a legal document setting out how it's to be administered and takes precedence over anything contained in the Product Disclosure Statement, the website and other publications.
The Trustee is responsible for making sure the Fund is managed in accordance with the Trust Deed and for the protection of member's entitlements.
The Trust Deed includes the Fund's general governing rules and Trustee powers and contains schedules that outline the rules relating to fees and specific membership categories. The schedules are:
Mine Super is a significant investor in the Australian and international investments market. The board has developed guidelines and principles to ensure
Our in-house investment team appoints professional investment managers to invest your money within strict guidelines.
We regularly review our investment managers' performance, remove managers and add new ones.
The Trustee delegates the authority to Investment Managers to exercise any right to vote and directs the Investment Manager to exercise any such right on all material matters arising (being those matters which are likely to have a material impact on the value of a share or unit in the Fund’s investment portfolio). This delegation is outlined in the Investment Management Agreements between the Trustee and the Investment Manager.
The Trustee retains the right to specifically direct the Investment Manager in relation to the appointment of a proxy and the way in which the proxy should vote. In the absence of any specific direction from the Trustee, the Investment Manager will exercise the right to vote as it determines.
The Investment Manager reports on the exercise of voting rights on a quarterly basis to the Mine Super Investments Team.
A summary of how, during the previous financial year, we’ve voted on resolutions in listed companies the Fund invests in.
The Group maintains a Risk Management Framework (RMF) that articulates how it comprehensively manages risk and supports delivery of the Strategic Plan. The RMF is informed by the Strategic Plan and consists of the following Board approved components:
A diagrammatic overview of the Group’s approach to risk management is represented here.