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Risk Appetite

The NAIF Board recognises the importance of maintaining a documented RAS that clearly articulates the amount and type of risk it is willing to seek or retain in pursuit of its mandate and strategic objectives.

The RAS provides clear guidance to the executive on the acceptable risk limits within which they must execute their activities. On an annual basis, or more frequently if required, the Board reviews the RAS in conjunction with strategic objectives to ensure continued alignment and address emerging risks, changes to existing risks and changes to Government policy. A review of the RMF and RAS was completed in August 2018 following the introduction of the Investment Mandate 2018.

The RAS is not a public document as it describes in detail the way NAIF’s risk appetite and tolerances (qualitative and quantitative) are established and controlled and as such is considered commercially sensitive.