Back to news

Novare to advise Botswana Public Officers Pension Fund

29 Apr 2013

The Botswana Public Officers Pension Fund (BPOPF) has appointed Novare Actuaries & Consultants South Africa as its asset and investment consultant.

Novare, which was founded in October 2000 as an independent investment advisory business in South Africa and began expanding into Africa in 2006, will have as its primary role the provision of objective, third-party advice that will enable the board of trustees to make well-informed decisions regarding investment of the fund’s assets.

The appointment brings assets under advisement by Novare to R171 billion.

The Botswana Public Officers Pension Fund, registered in 2001, was honoured by Africainvestor (Ai) during the Africa CEO Investment Climate Summit Business Leader Awards held on 11 October 2012 in Tokyo, Japan. BPOPF was awarded “Institutional Investor of the Year 2012”, a category in which it competed against institutions like the Development Bank of Southern Africa, The New York State Common Retirement Fund, JP Morgan and China Investment Corporation.

The awards recognise institutions and individuals who have contributed to improving the continent’s investment climate.

Board Chairman of BPOPF, Rapula Okaile, commented: “The main responsibility of the fund is to ensure that members are paid their pension benefits when they leave service. We look forward to working with Novare Actuaries & Consultants in ensuring that this function is performed effectively, and that investment returns are maximised for the benefit of our members.”

Acting CEO, Lesedi Moakofhi commented: “In terms of the fund’s rules, the Board of Trustees delegates certain responsibilities to the investment committee, including the drafting of an Investment Policy Statement and examining the recommendations from the fund’s investment adviser for the possible inclusion or removal of portfolios and if satisfactory, seeking board approval.”

William Moutloatse, CEO of Novare Actuaries & Consultants, commented: “That Novare Actuaries & Consultants was selected to advise the Botswana Public Officers Pension Fund is testimony to our ability to provide specialist support of the highest standards to institutional clients in Southern Africa. We look forward to being of service to the fund and its members.”