1. Bringing the Changes Broadening the vision and knowledge base within the industry

2. Bringing the Changes Purpose of the Session Introduction of Panel Brief review of findings from IRF 2012 Raising the Barre study Panel input on these findings Over to you to “bring those changes”.

3. Bringing the changes So together we can Fine tune the member mandate for the IRF Research Arm Be guided in our discussions by our panel of subject matter experts

4. Bringing the changes Introducing ourselves Mmapula Ikaneng Faith Letlala Vusi Mashile Enos Ngutshane De Wet van de Spuy Facilitator, Stephanie Griffiths

5. Bringing the changes We are working with two concepts here Vision Knowledge

6. Bringing the changes Let’s examine that vision In 2011, 83.61% of IRF members endorsed research, benchmarking and measurement as an essential IRF industry service (Member Survey) 2012 Strategy incorporated the planning and development of an IRF Research Platform to build industry and member knowledge resources The development of the platform was launched by the President, Mr Zamani Letjane, at the 2012 Annual Conference Anticipated focus to researching standards, practices and education needs amongst all stakeholders. Three phased survey research process

7. Bringing the changes In a phased approach Phase One Determining the research and benchmarking needs of IRF members and the Top 100 Funds in the region Phase Two Identifying benchmarks and perceived best practices amongst a demographically representative sample of regional retirement funds across variables identified in Phase 1 Phase Three: Aligning these benchmarks to the needs of members of retirement funds by researching these needs amongst a representative sample of members of regional retirement funds. (Information/communication, administrative/service, knowledge/educational, financial literacy levels)

8. 2012 Findings What the IRF found out in Phase 1 87,24%

9. Desired frequency text or bullet points

10. Industry research needs text or bullet points

11. Industry Support text or bullet points

12. To guide our thinking Governance trends (Enos) Legal and Compliance mandate (Mmapula) Investment practices and benchmarks (De Wet) Stakeholder education and financial literacy (Faith) Stakeholder perceptions and Industry influencers (Vusi) Communication with all stakeholders (Stephanie) Key trends and burning research needs

13. Bringing the Changes Broadening the vision and knowledge base within the industry

14. To guide our thinking Investment practices and benchmarks

15. To guide our thinking Objectives of investment research Industry compliance check Benchmarking (funds and industry) Guiding & educating Potential stakeholders Retirement funds Asset managers Insurers & banks Investment consultants Other (eg platform providers, administrators)

16. To guide our thinking Verify standards Investment Policy Statements (IPS) Investment sub committee Independent investment advise – fee structure, review Regulatory implementation (eg Reg 28) Benchmark practices Default solution – structure, preservation, annuitisation Lifestage approach – stages, takeup Platform services – costs, rebates Member choice – impact on fees Utilise performance fees

17. To guide our thinking Monitor trends Changes over last 12 months Alternative asset allocation Passive investments SRI General information AUM Overall Fund performance Average asset management fee

18. Now it your turn to steer the ship We will now facilitate round table discussions around each member defined research need Please select your area of expertise Move to the demarcated table Elect a spokesperson/recordkeeper Start planning

19. We need to know What should be researched (unpack the broader research topic.) How will it help our industry Where we should research it Who should be involved- advocacy, practical help When/how often should it be done Who will benefit by the results Whatever else YOU think we need to know Rank 1 of 3

20. Be both strategic and tactical Your hard thinking will guide the IRF Research Strategy It will provide a research roadmap for the next three years It will assist the IRF in delivering vision, benchmarking and knowledge to the retirement industry It will boost industry reputation, practices, service levels and member engagement It will be yours to use and own

21. Table topics Industry Governance Fund Governance Legal and compliance practices and trends Investment practices and trends Stakeholder education Stakeholder perceptions, attitudes and behaviour Communication practices and trends Financial reporting standards Sustainability Financial acumen and literacy Industry influencers The mystery box – what else?

22. Thank you for your contribution graph ? ? ? ?